Bank of America Cuts JD.com (NASDAQ:JD) Price Target to $48.00

JD.com (NASDAQ:JD - Get Free Report) had its price target reduced by Bank of America from $51.00 to $48.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the information services provider's stock. Bank of America's target price indicates a potential upside of 42.35% from the company's previous close.

A number of other brokerages have also weighed in on JD. StockNews.com lowered JD.com from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 11th. Benchmark boosted their price target on JD.com from $47.00 to $58.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Susquehanna reiterated a "neutral" rating and issued a $45.00 price objective (up previously from $35.00) on shares of JD.com in a report on Wednesday, March 12th. JPMorgan Chase & Co. raised their price target on shares of JD.com from $50.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of JD.com in a research note on Friday, March 7th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $48.67.

JD.com Price Performance

JD stock traded down $1.00 during trading on Wednesday, reaching $33.72. 9,683,581 shares of the company were exchanged, compared to its average volume of 14,146,358. JD.com has a twelve month low of $24.13 and a twelve month high of $47.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.17 and a quick ratio of 0.90. The company has a market capitalization of $53.18 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 0.31 and a beta of 0.53. The company has a 50-day moving average of $40.02 and a two-hundred day moving average of $38.88.

Hedge Funds Weigh In On JD.com

A number of institutional investors have recently modified their holdings of the company. KBC Group NV lifted its position in shares of JD.com by 213.4% during the fourth quarter. KBC Group NV now owns 356,019 shares of the information services provider's stock valued at $12,343,000 after purchasing an additional 242,409 shares in the last quarter. Appaloosa LP lifted its position in shares of JD.com by 43.4% during the 4th quarter. Appaloosa LP now owns 10,465,885 shares of the information services provider's stock worth $362,852,000 after buying an additional 3,165,885 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of JD.com by 20.4% in the 4th quarter. Van ECK Associates Corp now owns 393,597 shares of the information services provider's stock worth $13,646,000 after buying an additional 66,693 shares during the last quarter. Alberta Investment Management Corp increased its position in shares of JD.com by 25.4% during the fourth quarter. Alberta Investment Management Corp now owns 504,519 shares of the information services provider's stock valued at $17,492,000 after acquiring an additional 102,326 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in JD.com by 76.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 3,313,700 shares of the information services provider's stock worth $114,886,000 after acquiring an additional 1,440,418 shares during the period. 15.98% of the stock is owned by institutional investors and hedge funds.

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.