Zacks Investment Research Upgrades Vipshop (NYSE:VIPS) to “Buy”

Zacks Investment Research upgraded shares of Vipshop (NYSE:VIPSGet Rating) from a sell rating to a buy rating in a report released on Wednesday, Zacks.com reports. They currently have $9.75 price objective on the technology company’s stock.

According to Zacks, “Vipshop Holdings Ltd. is an online discount retailer for brands. The Company offers branded products to consumers in China through flash sales on its vipshop.com website. It offers a wide selection of various famous branded discount products including apparel for women, men and children, fashion goods, cosmetics, home goods and other lifestyle products, through its website. Vipshop Holdings Ltd. is headquartered in Guangzhou. “

Several other equities analysts have also recently commented on VIPS. StockNews.com started coverage on shares of Vipshop in a research note on Thursday, March 31st. They set a hold rating for the company. JPMorgan Chase & Co. lowered their price target on shares of Vipshop from $9.00 to $7.00 in a report on Monday, March 14th. Morgan Stanley lowered shares of Vipshop from an overweight rating to an equal weight rating and lowered their price target for the company from $15.00 to $10.00 in a report on Thursday, February 24th. Finally, Citigroup lowered shares of Vipshop from a neutral rating to a sell rating and lowered their price target for the company from $8.60 to $7.80 in a report on Friday, May 20th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Vipshop has a consensus rating of Hold and a consensus target price of $12.84.

NYSE:VIPS opened at $9.11 on Wednesday. The stock has a market cap of $6.19 billion, a P/E ratio of 9.59 and a beta of 0.66. Vipshop has a one year low of $5.75 and a one year high of $24.49. The company has a fifty day moving average price of $8.21 and a 200 day moving average price of $8.79.

Vipshop (NYSE:VIPSGet Rating) last released its earnings results on Thursday, May 19th. The technology company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.90 by $0.19. The firm had revenue of $23.93 billion during the quarter, compared to analysts’ expectations of $25.69 billion. Vipshop had a net margin of 3.72% and a return on equity of 15.55%. The business’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. On average, research analysts forecast that Vipshop will post 1.05 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of VIPS. Allspring Global Investments Holdings LLC bought a new stake in shares of Vipshop in the 4th quarter worth about $115,268,000. Hhlr Advisors LTD. grew its holdings in shares of Vipshop by 147.1% in the 1st quarter. Hhlr Advisors LTD. now owns 22,150,493 shares of the technology company’s stock worth $199,354,000 after purchasing an additional 13,186,741 shares during the last quarter. Krane Funds Advisors LLC grew its holdings in shares of Vipshop by 94.0% in the 3rd quarter. Krane Funds Advisors LLC now owns 9,076,423 shares of the technology company’s stock worth $101,111,000 after purchasing an additional 4,397,543 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Vipshop by 17.0% in the 3rd quarter. BlackRock Inc. now owns 25,688,745 shares of the technology company’s stock worth $286,172,000 after purchasing an additional 3,723,569 shares during the last quarter. Finally, Carmignac Gestion grew its holdings in shares of Vipshop by 90.0% in the 3rd quarter. Carmignac Gestion now owns 7,818,251 shares of the technology company’s stock worth $87,066,000 after purchasing an additional 3,702,426 shares during the last quarter. 54.52% of the stock is currently owned by institutional investors and hedge funds.

About Vipshop (Get Rating)

Vipshop Holdings Limited operates online platforms for various brands in the People's Republic of China. It operates in Vip.com, Shan Shan Outlets, and Others segments. The company offers women's apparel, such as casual wear, jeans, dresses, outerwear, lingerie, pajamas, and maternity clothes; men's apparel comprising casual and smart-casual T-shirts, polo shirts, jackets, pants, and underwear; and skin care and cosmetic products, including cleansers, lotions, face and body creams, face masks, sunscreen, foundations, lipsticks, eye shadows, and other cosmetics-related items.

Further Reading

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