Vipshop (NYSE:VIPS) Stock Rating Upgraded by New Street Research

New Street Research upgraded shares of Vipshop (NYSE:VIPS) from a neutral rating to a buy rating in a report released on Friday, The Fly reports. New Street Research currently has $9.50 price target on the technology company’s stock, up from their prior price target of $6.00.

Several other research analysts have also recently issued reports on VIPS. Zacks Investment Research raised Vipshop from a hold rating to a buy rating and set a $8.75 target price on the stock in a research report on Saturday, April 27th. CICC Research raised Vipshop from a neutral rating to an outperform rating in a research report on Thursday, August 15th. Jefferies Financial Group raised Vipshop from a hold rating to a buy rating in a research report on Thursday, August 15th. UBS Group cut Vipshop from a neutral rating to a sell rating in a research report on Monday, April 22nd. Finally, Credit Suisse Group raised Vipshop from a neutral rating to an outperform rating in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $8.53.

Vipshop stock opened at $8.33 on Friday. Vipshop has a one year low of $4.30 and a one year high of $9.26. The stock has a market capitalization of $5.27 billion, a PE ratio of 19.37 and a beta of 1.93. The business’s fifty day moving average is $7.63 and its 200 day moving average is $7.75.

Vipshop (NYSE:VIPS) last released its quarterly earnings data on Wednesday, August 14th. The technology company reported $1.58 EPS for the quarter, beating the consensus estimate of $0.12 by $1.46. Vipshop had a return on equity of 15.02% and a net margin of 2.97%. The company had revenue of $21.72 billion for the quarter, compared to analysts’ expectations of $21.60 billion. During the same period last year, the firm posted $0.84 earnings per share. Vipshop’s revenue was up 4.7% compared to the same quarter last year. As a group, research analysts anticipate that Vipshop will post 0.57 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of VIPS. Acadian Asset Management LLC lifted its position in shares of Vipshop by 308.7% during the 2nd quarter. Acadian Asset Management LLC now owns 7,315,917 shares of the technology company’s stock valued at $63,136,000 after buying an additional 5,525,949 shares in the last quarter. Invesco Ltd. lifted its position in shares of Vipshop by 30.1% during the 2nd quarter. Invesco Ltd. now owns 17,957,021 shares of the technology company’s stock valued at $154,968,000 after buying an additional 4,155,879 shares in the last quarter. Morgan Stanley lifted its position in shares of Vipshop by 26.0% during the 2nd quarter. Morgan Stanley now owns 18,731,443 shares of the technology company’s stock valued at $161,651,000 after buying an additional 3,865,045 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Vipshop by 56.2% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,070,316 shares of the technology company’s stock valued at $43,757,000 after buying an additional 1,824,170 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Vipshop by 110.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,221,433 shares of the technology company’s stock valued at $27,801,000 after buying an additional 1,692,614 shares in the last quarter. 44.60% of the stock is currently owned by hedge funds and other institutional investors.

Vipshop Company Profile

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 casual and formal shoes; and accessories that include belts, jewelry, watches, and glasses for women and men.

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