NEW YORK - Citigroup has raised its rating for Vipshop (NYSE:VIPS) Holdings Ltd. - ADR (NYSE:VIPS) from Neutral to Buy, setting a one-year price target at $19.08. This new target suggests a potential 28.91% increase over the stock's closing price of $14.80 on November 1. The range of price estimates for Vipshop spans from $14.34 to $23.10.
The upgrade comes amid reports that Vipshop's projected annual revenue is expected to rise by 1.30% to 111,366MM, with non-GAAP EPS forecasted at 10.44. Additionally, the number of funds or institutions holding positions in Vipshop has grown by eight owners or 1.41% since the last quarter, totaling 576 stakeholders.
Despite the overall bullish sentiment, the put/call ratio stands at 1.03, signaling a bearish market outlook. Meanwhile, the average portfolio weight dedicated to VIPS has increased by 7.33% to 0.39%. However, total shares owned by institutions have seen a net decrease of 7.35%, down to 332,090K shares.
InvestingPro Insights
In addition to Citigroup's positive outlook on Vipshop Holdings Ltd. (VIPS), InvestingPro data and tips highlight further strengths. According to InvestingPro, VIPS has demonstrated a high return on invested capital and holds more cash than debt on its balance sheet, indicating a strong financial position. Furthermore, the company has seen consistent increases in its earnings per share, a promising sign for investors.
Real-time data from InvestingPro reveals that VIPS has a market capitalization of $8.55 billion and a P/E ratio of 8.39, which indicates a low valuation relative to its earnings. The company's revenue growth in Q3 2023 was 4.18%, with gross profit standing at $3.34 billion. Furthermore, VIPS has shown a strong return on assets of 12.4% in the last twelve months as of Q3 2023.
These insights, along with hundreds more, are part of InvestingPro's comprehensive suite of tools for investors. For more InvestingPro tips and real-time data, consider exploring their platform.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.