Vipshop (VIPS) Shares Gap Down to $7.85

Vipshop Holdings Ltd – (NYSE:VIPS)’s share price gapped down prior to trading on Friday . The stock had previously closed at $8.01, but opened at $7.85. Vipshop shares last traded at $7.54, with a volume of 5084152 shares trading hands.

Several equities research analysts have issued reports on VIPS shares. KeyCorp lifted their target price on shares of Vipshop from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. upgraded shares of Vipshop from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $6.50 to $11.00 in a research report on Tuesday, April 30th. Bank of America lowered shares of Vipshop from a “buy” rating to a “neutral” rating and set a $6.92 target price for the company. in a research report on Tuesday, February 19th. ValuEngine upgraded shares of Vipshop from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th. Finally, Credit Suisse Group lowered shares of Vipshop from a “neutral” rating to an “underperform” rating in a research report on Thursday, February 21st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $8.71.

The company has a market capitalization of $5.06 billion, a P/E ratio of 17.53 and a beta of 1.94.

Vipshop (NYSE:VIPS) last posted its quarterly earnings results on Wednesday, May 22nd. The technology company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $20.55 billion. Vipshop had a net margin of 2.89% and a return on equity of 12.56%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. Analysts expect that Vipshop Holdings Ltd – will post 0.56 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the business. Wetherby Asset Management Inc. raised its stake in shares of Vipshop by 8.0% during the first quarter. Wetherby Asset Management Inc. now owns 16,268 shares of the technology company’s stock worth $131,000 after acquiring an additional 1,206 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Vipshop by 101.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,508 shares of the technology company’s stock worth $25,000 after acquiring an additional 2,267 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Vipshop by 27.6% during the fourth quarter. CIBC Asset Management Inc now owns 13,196 shares of the technology company’s stock worth $72,000 after acquiring an additional 2,855 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Vipshop by 8.2% in the first quarter. Advisors Asset Management Inc. now owns 38,970 shares of the technology company’s stock worth $313,000 after buying an additional 2,962 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Vipshop by 1.7% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 202,900 shares of the technology company’s stock worth $1,629,000 after buying an additional 3,300 shares during the period. 46.10% of the stock is currently owned by hedge funds and other institutional investors.

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

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