On July 8^th, shares of JD.com, Inc. (NASDAQ: JD) rose over 6%, bringing JD’s market cap to over US$100 billion for the first time. According to Tencent Securities news, the average target price based on forecasts from 43 institutions is US$61.54. Earlier this year, JD reported first quarter earnings of RMB 146.2 billion yuan (US$20.6 billion), an increase of 20.7% from the first quarter of 2019. In June, the company announced its secondary listing on Hong Kong Stock Exchange (9618.HK). During the 618 Grand Promotion, JD reported transaction volume of RMB 269.2 billion, an increase of over 33.6% YOY.