Vipshop (NYSE:VIPS) Issues Quarterly Earnings Results

Posted by on Aug 21st, 2023

Vipshop (NYSE:VIPS – Get Free Report) announced its quarterly earnings data on Friday. The technology company reported $4.30 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $1.07, MarketWatch Earnings reports. The company had revenue of $26.16 billion during the quarter, compared to the consensus estimate of $27.86 billion. Vipshop had a net margin of 7.23% and a return on equity of 20.72%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. Vipshop updated its Q3 2023 guidance to EPS.

Vipshop Stock Performance

NYSE:VIPS opened at $14.93 on Monday. The firm’s fifty day moving average is $17.00 and its 200-day moving average is $15.69. Vipshop has a 52 week low of $6.36 and a 52 week high of $19.13. The firm has a market cap of $8.75 billion, a P/E ratio of 7.90 and a beta of 0.53.

Institutional Investors Weigh In On Vipshop

A number of institutional investors have recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. boosted its stake in Vipshop by 136.5% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 263,691 shares of the technology company’s stock worth $2,136,000 after acquiring an additional 152,189 shares in the last quarter. American Century Companies Inc. boosted its stake in Vipshop by 13.9% during the first quarter. American Century Companies Inc. now owns 183,326 shares of the technology company’s stock worth $1,650,000 after acquiring an additional 22,392 shares in the last quarter. HighTower Advisors LLC bought a new position in Vipshop during the first quarter worth $108,000. Great West Life Assurance Co. Can boosted its stake in Vipshop by 3.3% during the first quarter. Great West Life Assurance Co. Can now owns 658,785 shares of the technology company’s stock worth $6,197,000 after acquiring an additional 21,100 shares in the last quarter. Finally, Yousif Capital Management LLC bought a new position in Vipshop during the first quarter worth $146,000. 44.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on VIPS shares. Benchmark lifted their price objective on shares of Vipshop from $15.00 to $19.00 in a research note on Wednesday, May 24th. JPMorgan Chase & Co. upped their price objective on shares of Vipshop from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, June 30th. HSBC upped their price objective on shares of Vipshop from $12.50 to $14.40 in a research report on Wednesday, May 24th. StockNews.com assumed coverage on shares of Vipshop in a research report on Thursday. They set a “buy” rating for the company. Finally, Bank of America upped their price objective on shares of Vipshop from $15.20 to $17.80 in a research report on Tuesday, May 23rd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.67.

View Our Latest Stock Report on VIPS

About Vipshop

(Get Free Report)

Vipshop Holdings Limited operates online platforms in the People's Republic of China. It operates in Vip.com, Shan Shan Outlets, and Others segments. The company offers womenswear, menswear, sportswear, shoes and bags, accessories, baby and children products, skincare and cosmetics, home goods and other lifestyle products, and supermarket products.

Further Reading

Earnings History for Vipshop (NYSE:VIPS)

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