Citigroup Begins Coverage on JD.com (NASDAQ:JD)

Key Points

• JD.com received a "buy" rating from Citigroup, who has set a price target of $42.00, indicating a potential upside of 34.50% from the stock's last close.
• Multiple brokerages have adjusted their price targets for JD.com, with recent targets ranging from $37.00 to $50.00, while the overall analyst consensus reflects a "Moderate Buy" rating.
• Hedge funds have shown increased interest, with several firms raising their positions in JD.com, now owning 15.98% of the company's stock.

Research analysts at Citigroup began coverage on shares of JD.com (NASDAQ:JD - Get Free Report) in a note issued to investors on Monday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $42.00 price target on the information services provider's stock. Citigroup's price target would suggest a potential upside of 30.76% from the stock's current price.

Other equities research analysts have also issued reports about the stock. UBS Group lowered their price target on shares of JD.com from $58.00 to $50.00 and set a "buy" rating on the stock in a research note on Thursday, July 10th. Mizuho lowered their price target on shares of JD.com from $50.00 to $48.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 14th. Benchmark lowered their price target on shares of JD.com from $53.00 to $47.00 and set a "buy" rating on the stock in a research note on Monday, July 21st. Susquehanna lowered their price target on shares of JD.com from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, May 15th. Finally, Macquarie reiterated a "neutral" rating and issued a $35.00 price target on shares of JD.com in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, JD.com has a consensus rating of "Moderate Buy" and a consensus price target of $43.31.

JD.com Stock Up 3.0%

JD traded up $0.94 during trading on Monday, hitting $32.12. The company had a trading volume of 8,371,632 shares, compared to its average volume of 9,461,791. The company has a market capitalization of $44.86 billion, a PE ratio of 7.82, a PEG ratio of 4.07 and a beta of 0.46. JD.com has a one year low of $25.24 and a one year high of $47.82. The firm's 50-day moving average price is $32.48 and its 200 day moving average price is $36.03. The company has a quick ratio of 0.92, a current ratio of 1.26 and a debt-to-equity ratio of 0.18.

Institutional Trading of JD.com

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC bought a new stake in JD.com in the 1st quarter valued at about $25,000. N.E.W. Advisory Services LLC bought a new stake in shares of JD.com during the 1st quarter worth approximately $32,000. Ameritas Advisory Services LLC bought a new stake in shares of JD.com during the 2nd quarter worth approximately $37,000. Allworth Financial LP lifted its holdings in shares of JD.com by 158.4% during the 2nd quarter. Allworth Financial LP now owns 1,354 shares of the information services provider's stock worth $44,000 after acquiring an additional 830 shares during the period. Finally, Wayfinding Financial LLC bought a new stake in shares of JD.com during the 1st quarter worth approximately $56,000. Institutional investors own 15.98% of the company's stock.

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.