Bank of America Lowers JD.com (NASDAQ:JD) Price Target to $37.00

JD.com (NASDAQ:JD - Get Free Report) had its price target decreased by equities researchers at Bank of America from $44.00 to $37.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the information services provider's stock. Bank of America's price objective points to a potential upside of 13.18% from the company's previous close.

A number of other research analysts have also commented on JD. JPMorgan Chase & Co. cut their target price on JD.com from $48.00 to $42.00 and set an "overweight" rating for the company in a research note on Tuesday, May 27th. Citigroup restated a "buy" rating and issued a $51.00 target price (down from $56.00) on shares of JD.com in a research note on Monday, April 28th. Arete Research upgraded JD.com to a "hold" rating in a research note on Tuesday, June 24th. Wall Street Zen lowered JD.com from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Arete lowered JD.com from a "buy" rating to a "neutral" rating and set a $45.00 target price for the company. in a research note on Tuesday, June 24th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $44.46.

JD.com Stock Performance

Shares of JD traded up $1.05 during mid-day trading on Monday, hitting $32.69. The company's stock had a trading volume of 12,304,878 shares, compared to its average volume of 13,945,063. JD.com has a one year low of $24.13 and a one year high of $47.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 1.26. The firm has a market capitalization of $45.66 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 4.14 and a beta of 0.48. The stock's 50-day moving average is $32.98 and its two-hundred day moving average is $36.50.

Hedge Funds Weigh In On JD.com

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in JD.com by 86.2% during the fourth quarter. FMR LLC now owns 28,447,641 shares of the information services provider's stock worth $986,280,000 after buying an additional 13,170,649 shares during the last quarter. CoreView Capital Management Ltd boosted its holdings in JD.com by 204.8% during the fourth quarter. CoreView Capital Management Ltd now owns 6,399,711 shares of the information services provider's stock worth $221,878,000 after buying an additional 4,299,872 shares during the last quarter. Voya Investment Management LLC bought a new position in JD.com during the fourth quarter worth about $109,665,000. Hhlr Advisors LTD. boosted its holdings in JD.com by 184.7% during the first quarter. Hhlr Advisors LTD. now owns 4,811,700 shares of the information services provider's stock worth $197,857,000 after buying an additional 3,121,700 shares during the last quarter. Finally, Aspex Management HK Ltd bought a new position in JD.com during the fourth quarter worth about $93,562,000. Institutional investors own 15.98% of the company's stock.

JD.com Company Profile

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.