Trade Report: The JD.com Inc. (JD) Price Target Raised to $31.00

The JD.com Inc. (JD) Price Target Raised to $31.00

JD.com Inc. (NASDAQ:JD) had its price target hoisted by SunTrust Banks Inc. from $27.00 to $31.00 in a research report sent to investors on Monday morning. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on JD. Vetr cut shares of JD.com from a strong-buy rating to a buy rating and set a $30.83 target price for the company. in a research note on Thursday, October 6th. MKM Partners cut shares of JD.com from a buy rating to a neutral rating and reduced their target price for the company from $32.00 to $27.00 in a research note on Tuesday, September 20th. JPMorgan Chase & Co. began coverage on shares of JD.com in a research note on Wednesday, August 31st. They issued a neutral rating and a $29.00 target price for the company. Zacks Investment Research upgraded shares of JD.com from a sell rating to a hold rating in a research note on Tuesday, August 16th. Finally, Piper Jaffray Cos. reiterated a neutral rating and issued a $27.00 target price on shares of JD.com in a research note on Saturday, August 13th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $31.33.

JD.com (NASDAQ:JD) opened at 26.59 on Monday. JD.com has a 12-month low of $19.51 and a 12-month high of $33.48. The company’s market capitalization is $38.38 billion. The stock’s 50 day moving average price is $26.33 and its 200 day moving average price is $24.36.

JD.com (NASDAQ:JD) last released its quarterly earnings results on Wednesday, August 10th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.32. JD.com had a negative net margin of 4.29% and a negative return on equity of 24.15%. The company earned $9.80 billion during the quarter, compared to analysts’ expectations of $9.81 billion. During the same period in the prior year, the company earned ($0.01) earnings per share. The business’s quarterly revenue was up 42.0% compared to the same quarter last year. On average, equities research analysts anticipate that JD.com will post ($0.10) earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of JD. Advisor Group Inc. acquired a new position in shares of JD.com during the second quarter worth about $103,000. KBC Group NV boosted its position in shares of JD.com by 3.4% in the second quarter. KBC Group NV now owns 8,016 shares of the company’s stock worth $170,000 after buying an additional 264 shares during the last quarter. Alpine Partners VI LLC acquired a new position in shares of JD.com during the first quarter worth about $229,000. Suntrust Banks Inc. boosted its position in shares of JD.com by 3.6% in the second quarter. Suntrust Banks Inc. now owns 10,466 shares of the company’s stock worth $221,000 after buying an additional 366 shares during the last quarter. Finally, Seven Bridges Advisors LLC acquired a new position in shares of JD.com during the second quarter worth about $234,000. 54.30% of the stock is owned by institutional investors and hedge funds.

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