Citigroup Cuts Vipshop (NYSE:VIPS) Price Target to $17.00

Vipshop (NYSE:VIPS) had its price objective cut by Citigroup from $18.00 to $17.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley lowered their price objective on shares of Vipshop from $16.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 20th. CLSA lowered shares of Vipshop from an “outperform” rating to a “hold” rating and lowered their price target for the company from $15.80 to $12.00 in a report on Wednesday, August 21st. StockNews.com downgraded Vipshop from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. UBS Group cut Vipshop from a “buy” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $12.50 in a research note on Wednesday, August 21st. Finally, Barclays began coverage on Vipshop in a research note on Wednesday, November 6th. They set an “overweight” rating and a $19.00 price target on the stock. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.50.

Vipshop Stock Performance

Shares of VIPS opened at $13.24 on Wednesday. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 6.33, a PEG ratio of 1.51 and a beta of 0.34. The stock has a fifty day moving average price of $14.66 and a two-hundred day moving average price of $14.39. Vipshop has a 52-week low of $11.50 and a 52-week high of $20.19.

Hedge Funds Weigh In On Vipshop

Hedge funds have recently added to or reduced their stakes in the stock. Krane Funds Advisors LLC increased its position in shares of Vipshop by 20.3% in the 2nd quarter. Krane Funds Advisors LLC now owns 15,737,381 shares of the technology company’s stock valued at $204,901,000 after buying an additional 2,659,117 shares in the last quarter. Hhlr Advisors LTD. grew its stake in Vipshop by 6.2% in the third quarter. Hhlr Advisors LTD. now owns 15,720,322 shares of the technology company’s stock valued at $247,281,000 after acquiring an additional 914,322 shares during the period. Vanguard Group Inc. increased its holdings in shares of Vipshop by 1.8% in the first quarter. Vanguard Group Inc. now owns 13,762,669 shares of the technology company’s stock worth $227,772,000 after acquiring an additional 248,743 shares in the last quarter. First Beijing Investment Ltd acquired a new stake in shares of Vipshop during the third quarter worth about $120,182,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Vipshop by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,739,378 shares of the technology company’s stock valued at $87,771,000 after purchasing an additional 343,739 shares in the last quarter. Institutional investors and hedge funds own 48.82% of the company’s stock.

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.