Bank of America Boosts Vipshop (NYSE:VIPS) Price Target to $17.80

Vipshop (NYSE:VIPS – Get Rating) had its price target boosted by Bank of America from $15.20 to $17.80 in a research note released on Tuesday morning, The Fly reports.

Several other brokerages have also recently commented on VIPS. Nomura Instinet upgraded shares of Vipshop from a neutral rating to a buy rating and lifted their price target for the stock from $10.00 to $17.00 in a research report on Friday, February 24th. Daiwa Capital Markets upgraded shares of Vipshop from a neutral rating to an outperform rating and set a $17.30 price objective for the company in a report on Wednesday, March 29th. Nomura upgraded shares of Vipshop from a neutral rating to a buy rating in a report on Friday, February 24th. StockNews.com began coverage on shares of Vipshop in a report on Thursday, May 18th. They set a buy rating for the company. Finally, Citigroup reduced their price target on shares of Vipshop from $17.00 to $15.00 in a report on Monday, February 27th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Vipshop currently has an average rating of Moderate Buy and an average target price of $15.35.

Vipshop Stock Performance

NYSE:VIPS opened at $14.99 on Tuesday. The company has a 50-day moving average of $15.07 and a 200-day moving average of $13.93. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 9.03 and a beta of 0.44. Vipshop has a 52 week low of $6.36 and a 52 week high of $16.35.

Vipshop (NYSE:VIPS – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.07. Vipshop had a net margin of 6.68% and a return on equity of 18.65%. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.52 billion. Sell-side analysts forecast that Vipshop will post 1.42 EPS for the current year.

Institutional Trading of Vipshop

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Vipshop by 6.1% during the first quarter. BlackRock Inc. now owns 27,113,695 shares of the technology company’s stock worth $411,586,000 after acquiring an additional 1,547,139 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Vipshop by 1.0% in the first quarter. Vanguard Group Inc. now owns 16,345,728 shares of the technology company’s stock valued at $147,111,000 after purchasing an additional 163,532 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Vipshop by 1.4% in the third quarter. UBS Asset Management Americas Inc. now owns 16,202,178 shares of the technology company’s stock valued at $136,260,000 after purchasing an additional 228,251 shares during the period. Robeco Institutional Asset Management B.V. bought a new position in shares of Vipshop in the fourth quarter valued at about $155,030,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Vipshop by 10.9% in the first quarter. Dimensional Fund Advisors LP now owns 10,927,203 shares of the technology company’s stock valued at $98,379,000 after purchasing an additional 1,069,930 shares during the period. 49.81% of the stock is owned by institutional investors.

Vipshop Company Profile

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Vipshop Holdings Ltd. operates as a holding company which through its subsidiaries engages in the provision of online product sales and distributions services. It offers womenswear, menswear, footwear, accessories, handbags, apparel for children, sportswear and sporting goods, cosmetic goods, home and lifestyle products, luxury goods, and gifts and miscellaneous.