JPMorgan Chase & Co. Forecasts Strong Price Appreciation for JD.com (NASDAQ:JD) Stock

JD.com (NASDAQ:JD) had its price target increased by research analysts at JPMorgan Chase & Co. from $50.00 to $55.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 28.11% from the stock’s previous close.

A number of other equities analysts have also recently commented on the stock. Sanford C. Bernstein raised shares of JD.com from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $43.00 to $46.00 in a research note on Monday, December 9th. Citigroup dropped their price target on JD.com from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Benchmark increased their price objective on JD.com from $47.00 to $58.00 and gave the company a “buy” rating in a research report on Friday. Barclays raised their price objective on JD.com from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, Dbs Bank raised JD.com to a “strong-buy” rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, JD.com presently has an average rating of “Moderate Buy” and a consensus target price of $42.86.

JD.com Price Performance

Shares of JD.com stock traded down $0.99 on Friday, reaching $42.93. The stock had a trading volume of 6,035,901 shares, compared to its average volume of 13,178,570. The business’s 50 day moving average is $38.84 and its two-hundred day moving average is $36.63. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. JD.com has a 1 year low of $23.78 and a 1 year high of $47.82. The company has a market cap of $67.71 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 0.31 and a beta of 0.43.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. grew its holdings in shares of JD.com by 9.9% during the 3rd quarter. Citigroup Inc. now owns 400,294 shares of the information services provider’s stock worth $16,012,000 after acquiring an additional 36,096 shares during the period. Maple Rock Capital Partners Inc. grew its stake in JD.com by 5.9% in the third quarter. Maple Rock Capital Partners Inc. now owns 3,577,138 shares of the information services provider’s stock worth $143,086,000 after purchasing an additional 200,200 shares during the period. KBC Group NV raised its holdings in JD.com by 213.4% in the fourth quarter. KBC Group NV now owns 356,019 shares of the information services provider’s stock worth $12,343,000 after purchasing an additional 242,409 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of JD.com by 65,089.6% during the 3rd quarter. National Bank of Canada FI now owns 2,214,492 shares of the information services provider’s stock valued at $88,580,000 after buying an additional 2,211,095 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in JD.com by 20.4% in the fourth quarter. Van ECK Associates Corp now owns 393,597 shares of the information services provider’s stock worth $13,646,000 after purchasing an additional 66,693 shares during the period. 15.98% of the stock is owned by hedge funds and other institutional investors.

JD.com Company Profile

JD.com, Inc operates as a supply chain-based technology and service provider in the People's Republic of China. The company offers computers, communication, and consumer electronics products, as well as home appliances; and general merchandise products comprising food, beverage and fresh produce, baby and maternity products, furniture and household goods, cosmetics and other personal care items, pharmaceutical and healthcare products, industrial products, books, automobile accessories, apparel and footwear, bags, and jewelry.