JD.Com Inc(ADR) (NASDAQ:JD) shares are trading way down today, mostly in response to the overall sentiment on Chinese stocks in general. While JD.com is traded on the Nasdaq, it is still a Chinese company, thus following the Chinese Stock Market’s 7% decline, company shares are responding accordingly.
Most of the fears stem from investor sentiment that the Chinese market is stalling and slowing down, leading some to believe we are seeing perhaps the start of a recession of sorts. JD.Com Inc(ADR) (NASDAQ:JD) still remains a strong company, although its possible we will begin to see analyst start to downgrade the stock. This week should be an interesting one for both Chinese stocks and those in the United States.
The stock is down 9.55% or $3.08 following the news, hitting $29.18 per share. About 14.92M shares traded hands or 69.93% up from the average. JD has declined 4.20% since May 29, 2015 and is downtrending. It has underperformed the S&P500 by 2.08%.
From a total of 8 analysts covering JD.com (NASDAQ:JD) stock, 8 rate it a “Buy”, 0 a “Sell”, and 0 a “Hold”. This means that 100% of the ratings are positive. The highest target price is $43 while the lowest target price is $31.70. The mean of all analyst targets is $36.83 which is 26.22% above today’s ($29.18) stock price. JD.com was the topic of 12 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Morgan Stanley upgraded shares on December 17 to a “Overweight” rating. TH Capital initiated shares with a”Buy” rating and a $39 target share price in their report from an August 4. HSBC initiated JD stock in a recent report from November 10 with a “Buy” rating. Finally, Macquarie Research maintained the stock with a “Outperform” rating in a report they issued on an August 11.
JD.com, Inc. is an online direct sales company. The company has a market cap of $43.90 billion. The Firm engages primarily in the sale of electronics and home appliance products and general merchandise products sourced from manufacturers, distributors and publishers in People’s republic of China (PRC) on the Internet through its Website jd.com. It currently has negative earnings. It also operates its online marketplace under which third-party sellers sell products on the Company’s Website to customers.