JD.Com Inc (ADR) (NASDAQ:JD), China’s largest online direct sales company, today unveiled an enhanced version of its online enterprise procurement platform, JD Enterprise, and announced that it has joined an alliance of leading companies from across the enterprise procurement industry to provide faster, more convenient and more cost-effective procurement solutions to corporate customers across China.
The JD Enterprise Intelligent Procurement Platform, launched in late 2014, uses data-driven insights to make the procurement process more efficient for both suppliers and customers. The new services unveiled today will enable corporate customers to manage more of their procurement functions directly via JD Enterprise, reducing costs and raising efficiency.
“Capturing more of the enterprise procurement sector is an important priority for JD.com, and this move to provide an even more convenient, user-friendly and cost effective procurement platform is a big step towards further cementing our leadership position,” said Chunzheng Song, General Manager of JD Enterprise. “The added ease of making major enterprise purchases on our platform builds on JD.com’s industry-leading differentiators in the areas of product authenticity and delivery speed.”
The new services were unveiled at an event in Beijing today where JD.com joined with leading suppliers, independent software vendors and service providers, including Lenovo, HP and Canon, to announce a new enterprise procurement alliance. The members of the alliance will work together to build an integrated enterprise procurement ecosystem that will provide logistics, financing and data-related support to enable companies to enhance their online procurement capabilities.
The new initiatives build on JD.com’s successful procurement platform, JD Enterprise (b.jd.com), which is one of China’s leading enterprise procurement channels. Serving large, medium and small enterprises, as well as public sector clients, JD Enterprise simplifies the procurement process by providing a range of ecommerce-based customized procurement services. JD.com also offers a range of financing options to customers through its enterprise financing arm, JD Jincai. (Original Source)
Shares of JD.com closed yesterday at $32.15. JD has a 1-year high of $38 and a 1-year low of $21.78. The stock’s 50-day moving average is $34.33 and its 200-day moving average is $31.08.
On the ratings front, JD.com has been the subject of a number of recent research reports. In a report issued on May 11, Suntrust Robinson Humphrey analyst Robert Peck maintained a Buy rating on JD, with a price target of $37, which implies an upside of 15.1% from current levels. Separately, on the same day, Brean Murray Carret’s Fawne Jiang reiterated a Buy rating on the stock and has a price target of $37.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Robert Peck and Fawne Jiang have a total average return of 12.4% and -0.8% respectively. Peck has a success rate of 61.7% and is ranked #262 out of 3717 analysts, while Jiang has a success rate of 40.0% and is ranked #2847.
The street is mostly Bullish on JD stock. Out of 5 analysts who cover the stock, 4 suggest a Buy rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $39.50, which represents a potential upside of 22.9% from where the stock is currently trading.
JD.com Inc is an online direct sales company in China. The Company acquires products from suppliers and sell them directly to its customers through its website and mobile applications.