Vipshop (NYSE:VIPS) Shares Gap Up to $16.58

Shares of Vipshop Holdings Limited (NYSE:VIPS) gapped up prior to trading on Wednesday . The stock had previously closed at $16.58, but opened at $17.42. Vipshop shares last traded at $17.37, with a volume of 802,536 shares trading hands.

Analysts Set New Price Targets

VIPS has been the subject of a number of research reports. Morgan Stanley dropped their target price on shares of Vipshop from $16.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, August 20th. Citigroup raised their target price on shares of Vipshop from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. StockNews.com upgraded Vipshop from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. UBS Group cut Vipshop from a “buy” rating to a “neutral” rating and cut their price target for the company from $20.00 to $12.50 in a report on Wednesday, August 21st. Finally, CLSA lowered Vipshop from an “outperform” rating to a “hold” rating and lowered their price objective for the stock from $15.80 to $12.00 in a research note on Wednesday, August 21st. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Vipshop presently has an average rating of “Hold” and an average price target of $17.42.

Vipshop Stock Performance

The firm has a market capitalization of $9.38 billion, a PE ratio of 8.15 and a beta of 0.33. The business’s 50 day moving average price is $13.29 and its 200-day moving average price is $14.80.

Vipshop (NYSE:VIPS) last issued its quarterly earnings results on Tuesday, August 20th. The technology company reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $3.43. Vipshop had a net margin of 7.52% and a return on equity of 22.51%. The company had revenue of $25.08 billion during the quarter, compared to the consensus estimate of $26.61 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, analysts anticipate that Vipshop Holdings Limited will post 2 earnings per share for the current year.

Hedge Funds Weigh In On Vipshop

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. increased its position in Vipshop by 5.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,976 shares of the technology company’s stock worth $264,000 after buying an additional 779 shares during the period. Diversified Trust Co boosted its stake in Vipshop by 0.9% during the 1st quarter. Diversified Trust Co now owns 99,737 shares of the technology company’s stock worth $1,651,000 after purchasing an additional 875 shares during the period. Vinva Investment Management Ltd boosted its stake in Vipshop by 6.4% during the 4th quarter. Vinva Investment Management Ltd now owns 16,007 shares of the technology company’s stock worth $281,000 after purchasing an additional 969 shares during the period. Janiczek Wealth Management LLC increased its stake in Vipshop by 6.3% in the first quarter. Janiczek Wealth Management LLC now owns 20,248 shares of the technology company’s stock valued at $336,000 after purchasing an additional 1,193 shares during the period. Finally, Maple Brown Abbott Ltd raised its holdings in shares of Vipshop by 4.4% in the first quarter. Maple Brown Abbott Ltd now owns 29,314 shares of the technology company’s stock valued at $485,000 after buying an additional 1,232 shares during the last quarter. 48.82% of the stock is owned by institutional investors and hedge funds.

About Vipshop

Vipshop Holdings Limited operates online platforms in the People's Republic of China. It operates in Vip.com, Shan Shan Outlets, and Others segments. The company offers womenswear, menswear, sportswear and sporting goods, shoes and bags, accessories, baby and children products, skincare and cosmetics, home goods and other lifestyle products, and supermarket products.