The Goldman Sachs Group Initiates Coverage on JD.com (NASDAQ:JD)

Investment analysts at The Goldman Sachs Group started coverage on shares of JD.com (NASDAQ:JD) in a research note issued to investors on Thursday, StockNewsAPI reports. The brokerage set a “buy” rating and a $37.00 price target on the information services provider’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 29.96% from the stock’s previous close.

A number of other equities research analysts also recently commented on JD. StockNews.com upgraded JD.com from a “hold” rating to a “buy” rating in a research report on Monday, April 8th. Loop Capital reduced their target price on JD.com from $26.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Mizuho lifted their target price on JD.com from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Susquehanna reduced their target price on JD.com from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, April 5th. Finally, Benchmark reiterated a “buy” rating and issued a $55.00 price objective on shares of JD.com in a report on Tuesday, April 16th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.60.

JD.com Stock Performance

Shares of NASDAQ:JD traded up $0.20 during trading on Thursday, hitting $28.47. The stock had a trading volume of 4,347,695 shares, compared to its average volume of 14,507,747. JD.com has a 12-month low of $20.82 and a 12-month high of $41.95. The stock has a market capitalization of $44.90 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 0.22 and a beta of 0.54. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 0.14. The stock has a 50-day simple moving average of $25.69 and a two-hundred day simple moving average of $25.83.

JD.com (NASDAQ:JD) last announced its quarterly earnings results on Wednesday, March 6th. The information services provider reported $5.30 earnings per share for the quarter, beating the consensus estimate of $0.56 by $4.74. The company had revenue of $306.08 billion during the quarter, compared to analysts’ expectations of $300.21 billion. JD.com had a return on equity of 10.87% and a net margin of 2.22%. JD.com’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned $0.54 earnings per share. On average, equities research analysts expect that JD.com will post 2.85 earnings per share for the current fiscal year.

Institutional Trading of JD.com

A number of large investors have recently made changes to their positions in the company. Aspex Management HK Ltd purchased a new stake in JD.com during the 4th quarter valued at approximately $114,009,000. FIL Ltd raised its stake in JD.com by 124.3% during the 4th quarter. FIL Ltd now owns 6,210,546 shares of the information services provider’s stock valued at $179,423,000 after acquiring an additional 3,441,605 shares during the last quarter. National Bank of Canada FI raised its stake in JD.com by 292.4% during the 4th quarter. National Bank of Canada FI now owns 4,436,719 shares of the information services provider’s stock valued at $120,679,000 after acquiring an additional 3,305,956 shares during the last quarter. Discerene Group LP raised its stake in JD.com by 107.9% during the 4th quarter. Discerene Group LP now owns 3,347,232 shares of the information services provider’s stock valued at $96,702,000 after acquiring an additional 1,737,572 shares during the last quarter. Finally, Morgan Stanley raised its stake in JD.com by 15.8% during the 3rd quarter. Morgan Stanley now owns 9,277,951 shares of the information services provider’s stock valued at $270,267,000 after acquiring an additional 1,265,995 shares during the last quarter. 15.98% of the stock is owned by institutional investors and hedge funds.

About JD.com

JD.com, Inc operates as a supply chain-based technology and service provider in the People's Republic of China. The company offers computers, communication, and consumer electronics products, as well as home appliances; and general merchandise products comprising food, beverage and fresh produce, baby and maternity products, furniture and household goods, cosmetics and other personal care items, pharmaceutical and healthcare products, industrial products, books, automobile accessories, apparel and footwear, bags, and jewelry.