Zacks Investment Research Downgrades JD.com, Inc. (JD) to Sell

JD.com, Inc. (NASDAQ:JD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “JD.com, Inc. operates as an online direct sales company in China. The Company, through its Website www.jd.com and mobile applications offers a selection of authentic products. It offers computers; mobile handsets and other digital products, home appliances; automobile accessories; clothing and shoes; luxury goods including handbags, watches and jewelry, furniture and household products; cosmetics and other personal care items; food and nutritional supplements; books, e-books, music, movies and other media products; mother and childcare products; toys, sports and fitness equipment; and virtual goods. JD.com, Inc. is based in Beijing, China. “

Other equities analysts also recently issued reports about the stock. MKM Partners raised shares of JD.com from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $33.00 to $51.00 in a report on Wednesday, August 23rd. They noted that the move was a valuation call. HSBC Holdings plc restated a “buy” rating and issued a $49.00 price objective on shares of JD.com in a research note on Tuesday, August 15th. Instinet restated a “buy” rating and issued a $55.00 price objective (up from $46.00) on shares of JD.com in a research note on Tuesday, August 15th. Bank of America Corporation restated a “buy” rating and issued a $53.00 price objective (up from $46.00) on shares of JD.com in a research note on Wednesday, August 9th. Finally, BidaskClub cut JD.com from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $43.97.

JD.com (NASDAQ:JD) last released its quarterly earnings data on Monday, August 14th. The information services provider reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The company had revenue of $93.20 billion during the quarter, compared to analyst estimates of $89.35 billion. JD.com had a negative net margin of 0.95% and a negative return on equity of 1.80%. JD.com’s revenue for the quarter was up 43.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS.

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Several hedge funds have recently bought and sold shares of the company. Tybourne Capital Management HK Ltd. raised its stake in JD.com by 81.3% during the 1st quarter. Tybourne Capital Management HK Ltd. now owns 15,161,669 shares of the information services provider’s stock valued at $471,680,000 after purchasing an additional 6,797,369 shares during the period. FIL Ltd increased its stake in JD.com by 36.1% in the 2nd quarter. FIL Ltd now owns 9,860,118 shares of the information services provider’s stock worth $386,713,000 after acquiring an additional 2,616,886 shares during the last quarter. GQG Partners LLC bought a new stake in JD.com in the 2nd quarter worth approximately $85,822,000. BARING ASSET MANAGEMENT Ltd bought a new stake in JD.com in the 2nd quarter worth approximately $61,748,000. Finally, TB Alternative Assets Ltd. bought a new stake in JD.com in the 2nd quarter worth approximately $50,598,000. 46.43% of the stock is currently owned by hedge funds and other institutional investors.

JD.com Company Profile

JD.com, Inc is an online direct sales company. The Company engages in the sale of electronics and home appliance products and general merchandise products (including audio, video products and books) sourced from manufacturers, distributors and publishers in China on the Internet through its Website, www.jd.com.

Analyst Recommendations for JD.com (NASDAQ:JD)

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