Vipshop (VIPS) Shares Up 7.3%

Shares of Vipshop Holdings Ltd – (NYSE:VIPS) shot up 7.3% on Wednesday . The stock traded as high as $4.87 and last traded at $4.86. 5,686,096 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 9,563,628 shares. The stock had previously closed at $4.53.

A number of analysts recently commented on the stock. ValuEngine downgraded shares of Vipshop from a “sell” rating to a “strong sell” rating in a report on Saturday, July 14th. Goldman Sachs Group downgraded shares of Vipshop from a “buy” rating to a “neutral” rating and set a $14.30 price objective on the stock. in a report on Wednesday, July 11th. Citigroup downgraded shares of Vipshop from a “buy” rating to a “sell” rating in a report on Tuesday, August 14th. Daiwa Capital Markets downgraded shares of Vipshop from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $16.00 to $8.00 in a report on Tuesday, August 14th. Finally, Macquarie decreased their price objective on shares of Vipshop from $16.50 to $10.50 and set an “outperform” rating on the stock in a report on Wednesday, August 15th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Vipshop currently has an average rating of “Hold” and a consensus target price of $11.21.

The firm has a market capitalization of $3.10 billion, a P/E ratio of 8.38 and a beta of 1.65.

Vipshop (NYSE:VIPS) last announced its earnings results on Monday, August 13th. The technology company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.73. The company had revenue of $20.74 billion during the quarter, compared to analysts’ expectations of $21.23 billion. Vipshop had a net margin of 2.78% and a return on equity of 15.75%. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.18 earnings per share. On average, research analysts expect that Vipshop Holdings Ltd – will post 0.41 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Schroder Investment Management Group raised its position in Vipshop by 27.2% during the second quarter. Schroder Investment Management Group now owns 24,751,215 shares of the technology company’s stock worth $267,808,000 after acquiring an additional 5,294,013 shares during the last quarter. OppenheimerFunds Inc. raised its position in Vipshop by 1,559.4% during the second quarter. OppenheimerFunds Inc. now owns 20,698,567 shares of the technology company’s stock worth $224,580,000 after acquiring an additional 19,451,180 shares during the last quarter. Global Thematic Partners LLC raised its position in Vipshop by 63.1% during the third quarter. Global Thematic Partners LLC now owns 6,382,543 shares of the technology company’s stock worth $39,825,000 after acquiring an additional 2,468,257 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Vipshop by 3,978.5% during the second quarter. Canada Pension Plan Investment Board now owns 5,017,010 shares of the technology company’s stock worth $54,435,000 after acquiring an additional 4,894,000 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Vipshop during the second quarter worth about $45,847,000. Institutional investors own 49.76% of the company’s stock.

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

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