Vipshop (NYSE:VIPS) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Vipshop Holdings Limited (NYSE:VIPS)’s share price crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $12.83 and traded as high as $13.03. Vipshop shares last traded at $12.89, with a volume of 2,342,583 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently commented on VIPS. Morgan Stanley set a $16.00 price target on shares of Vipshop in a research report on Wednesday, August 26th. JPMorgan Chase & Co. reduced their price target on shares of Vipshop from $21.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, September 10th. Zacks Research upgraded Vipshop from a “strong sell” rating to a “hold” rating in a research note on Thursday. Wall Street Zen lowered Vipshop from a “buy” rating to a “hold” rating in a research note on Monday, August 24th. Finally, Barclays decreased their target price on Vipshop from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Vipshop has an average rating of “Hold” and an average target price of $17.16.

Vipshop Stock Up 1.2%

The company has a fifty day simple moving average of $12.83 and a two-hundred day simple moving average of $14.66. The stock has a market capitalization of $6.17 billion, a P/E ratio of 4.27, a price-to-earnings-growth ratio of 2.03 and a beta of 0.57.

Vipshop (NYSE:VIPS) last issued its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.47). Vipshop had a net margin of 9.88% and a return on equity of 12.63%. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.64 billion. As a group, equities analysts forecast that Vipshop Holdings Limited will post 1.63 earnings per share for the current year.

Institutional Investors Weigh In On Vipshop

A number of large investors have recently made changes to their positions in VIPS. EverSource Wealth Advisors LLC increased its holdings in shares of Vipshop by 100.4% during the first quarter. EverSource Wealth Advisors LLC now owns 3,721 shares of the technology company’s stock valued at $58,000 after acquiring an additional 1,864 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Vipshop in the second quarter worth approximately $58,000. State of Wyoming increased its stake in Vipshop by 10,007.7% during the first quarter. State of Wyoming now owns 6,570 shares of the technology company’s stock worth $103,000 after purchasing an additional 6,505 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Vipshop during the 3rd quarter worth $97,000. Finally, Ramsey Quantitative Systems purchased a new stake in Vipshop during the 2nd quarter valued at approximately $117,000. 48.82% of the stock is currently owned by institutional investors.

Vipshop Company Profile

Vipshop Holdings Limited (NYSE: VIPS) operates an online discount retail platform in China. Through its Vipshop website and mobile applications, the company offers branded products at promotional prices, with a focus on limited-time and seasonal sales.

Its product categories include apparel, footwear, accessories, beauty and personal-care products, home goods, consumer electronics, and other lifestyle merchandise. Vipshop sources products from brand owners, retailers, and other suppliers, and supports transactions through online retail, warehousing, fulfillment, and customer-service operations.

Founded in 2008 and headquartered in Guangzhou, China, Vipshop primarily serves consumers in mainland China.