Vipshop (VIPS) Shares Gap Down on Analyst Downgrade
Vipshop Holdings Ltd – (NYSE:VIPS)’s share price gapped down before the market opened on Thursday after Macquarie lowered their price target on the stock from $16.50 to $10.50. The stock had previously closed at $7.35, but opened at $7.31. Macquarie currently has an outperform rating on the stock. Vipshop shares last traded at $7.19, with a volume of 473521 shares.
VIPS has been the subject of several other research reports. Daiwa Capital Markets cut Vipshop from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $16.00 to $8.00 in a research report on Tuesday. KeyCorp cut Vipshop from an “overweight” rating to a “sector weight” rating and set a $20.00 price objective for the company. in a research report on Tuesday, May 15th. ValuEngine cut Vipshop from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Goldman Sachs Group cut Vipshop from a “buy” rating to a “neutral” rating and set a $14.30 price target for the company. in a report on Wednesday, July 11th. Finally, Zacks Investment Research raised Vipshop from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. Six analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $14.65.
Institutional investors have recently bought and sold shares of the business. Levin Capital Strategies L.P. acquired a new position in Vipshop in the 2nd quarter valued at approximately $108,000. Wexford Capital LP acquired a new position in Vipshop in the 1st quarter valued at approximately $181,000. Greenleaf Trust acquired a new position in Vipshop in the 2nd quarter valued at approximately $122,000. Quantitative Systematic Strategies LLC acquired a new position in Vipshop in the 1st quarter valued at approximately $205,000. Finally, Bridgewater Associates LP acquired a new position in Vipshop in the 2nd quarter valued at approximately $137,000. 48.54% of the stock is owned by hedge funds and other institutional investors.
Vipshop (NYSE:VIPS) last released its quarterly earnings data on Monday, August 13th. The technology company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.73. Vipshop had a return on equity of 20.24% and a net margin of 2.51%. The company had revenue of $20.74 billion for the quarter, compared to analyst estimates of $21.23 billion. During the same period in the prior year, the company posted $1.18 EPS. The company’s revenue was up 18.4% compared to the same quarter last year. equities analysts predict that Vipshop Holdings Ltd – will post 0.49 EPS for the current year.
About Vipshop (NYSE:VIPS)
Vipshop Holdings Limited operates as an online discount retailer for various brands in the People's Republic of China. It operates in two segments, Vip.com and Internet Finance Business. The company offers women's apparel, such as casual wear, jeans, dresses, outerwear, swimsuits, lingerie, pajamas, and maternity clothes; men's apparel comprising casual and smart-casual T-shirts, polo shirts, jackets, pants, and underwear; women and men shoes for casual and formal occasions; and accessories that include belts, jewelry, watches, and glasses for women and men.
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