JPMorgan Chase & Co. Issues Pessimistic Forecast for Vipshop (NYSE:VIPS) Stock Price

Vipshop (NYSE:VIPS) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $22.00 to $21.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 35.18% from the stock’s current price.

A number of other research firms have also commented on VIPS. Zacks Research upgraded shares of Vipshop from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 20th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Vipshop in a report on Thursday, February 26th. Nomura upgraded shares of Vipshop from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Friday, February 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Vipshop in a report on Friday. Finally, Wall Street Zen lowered shares of Vipshop from a “buy” rating to a “hold” rating in a research report on Sunday, January 4th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Vipshop currently has an average rating of “Moderate Buy” and a consensus price target of $20.48.

Vipshop Stock Performance

NYSE VIPS traded down $0.47 during trading hours on Tuesday, hitting $15.54. The company had a trading volume of 1,674,899 shares, compared to its average volume of 2,138,157. The firm has a market capitalization of $7.96 billion, a price-to-earnings ratio of 7.80, a PEG ratio of 1.32 and a beta of 0.66. Vipshop has a 52 week low of $12.14 and a 52 week high of $21.08. The firm has a 50 day simple moving average of $16.82 and a 200 day simple moving average of $18.21.

Hedge Funds Weigh In On Vipshop

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Arax Advisory Partners increased its stake in Vipshop by 96.8% in the 4th quarter. Arax Advisory Partners now owns 1,407 shares of the technology company’s stock worth $25,000 after purchasing an additional 692 shares during the period. Richardson Financial Services Inc. boosted its stake in shares of Vipshop by 153.8% during the fourth quarter. Richardson Financial Services Inc. now owns 2,063 shares of the technology company’s stock valued at $36,000 after purchasing an additional 1,250 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of Vipshop by 8,472.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,143 shares of the technology company’s stock worth $38,000 after purchasing an additional 2,118 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Vipshop by 575.5% in the third quarter. Global Retirement Partners LLC now owns 2,925 shares of the technology company’s stock worth $57,000 after purchasing an additional 2,492 shares during the last quarter. Finally, Cooper Investors PTY Ltd. purchased a new position in shares of Vipshop in the fourth quarter worth $58,000. 48.82% of the stock is currently owned by hedge funds and other institutional investors.

About Vipshop

Vipshop Holdings Limited (NYSE:VIPS) is a leading online discount retailer in China, offering high-quality branded products at competitive prices through a time-limited, flash-sales model. The company provides consumers with access to a rotating selection of merchandise, combining the excitement of limited-time offers with curated brand partnerships to drive customer engagement and loyalty.

Vipshop’s platform features a diverse range of product categories, including apparel, footwear, cosmetics, home furnishings, digital electronics and other lifestyle goods.