Investment analysts at Piper Jaffray boosted their target price on shares of Vipshop Holdings Ltd – (NASDAQ: VIPS) from $15.00 to $36.00 in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm currently has an “overweight” rating on the stock.
The analysts wrote, “Bottom line: We continue to like shares of VIPS as we believe the company’s business model has the ability to continue to scale from here, having achieved profitability for the first time in Q412. As China’s market leader in online flash sales, Vipshop has a long runway of growth ahead in our opinion. Vipshop’s apparel business (55% of revenue), for example, has a market share of only 2.3% (2013 PJC est) of China’s large and growing $64B (USD) discount apparel retail market. Our positive bias regarding Vipshop’s business model was reinforced by our recent visit to the company’s Guangzhou warehouse – we highlight our warehouse visit takeaways below. We are raising our price target from $15 to $36 (1.1x CY13E EV/revenue); and increasing our FY13 estimates, flowing through Q412’s outperformance.”
Shares of Vipshop Holdings Ltd – (NASDAQ: VIPS) traded down 0.14% during mid-day trading on Monday, hitting $28.57. Vipshop Holdings Ltd – has a one year low of $4.12 and a one year high of $30.23. The stock’s 50-day moving average is currently $25.05. The company’s market cap is $1.447 billion.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase initiated coverage on shares of Vipshop Holdings Ltd – in a research note to investors on Monday. They set an “overweight” rating on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Vipshop Holdings Ltd – from $15.00 to $30.00 in a research note to investors on Monday, March 11th. They now have an “outperform” rating on the stock. Finally, analysts at Zacks upgraded shares of Vipshop Holdings Ltd – from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, March 5th. They now have a $29.20 price target on the stock.
Six equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $31.76.
Vipshop Holdings Limited (NASDAQ: VIPS) is a holding company. Vipshop Holdings conducts its business through its subsidiaries and consolidated affiliated entity in the People’s Republic of China.