Goldman Sachs Reiterates Top Rating on (JD) Amid Another Record Singles Day

November 11, 2021 3:53 PM EST
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Goldman Sachs analyst Ronald Keung reiterated a Conviction Buy rating and $123.00 price target on, Inc (NASDAQ: JD) following another records Singles Day.

The analyst commented, " (JD) saw another year of record sales in this year's Singles Day shopping festival, where GMV reached Rmb349.1bn over the period Oct 31st 8pm - Nov 11th, 29% higher than last year's Rmb271.5bn during the Nov 1st 12am - Nov 11th sales period (noting this year's GMV period was four hours longer than last year's). We illustrate highlights of JD's Singles Day results by businesses/categories, and provide four key observations from this year's shopping festival for JD (Oct 20th-Nov 11th): (1) Strong user engagement trends, especially in attracting young users; (2) Further penetration into lower tier cities; (3) Supporting new and local brands, and (4) Omni-channel sales saw +101% yoy in GMV. "

For an analyst ratings summary and ratings history on, Inc click here. For more ratings news on, Inc click here.

Shares of, Inc closed at $77.74 yesterday.

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