Alibaba Group Holding Limited (NYSE:BABA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, October 9th. The brokerage presently has a $200.00 target price on the specialty retailer’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.79% from the company’s current price.
According to Zacks, “Alibaba Group is a Chinese e-Commerce giant which caters mainly to its native market. The company’s fiscal first-quarter results exceeded the Zacks Consensus Estimate on revenues and earnings. Also, on a year to date basis, the stock has outperformed the Zacks characterized Electronic Commerce industry. Alibaba’s strong core e-commerce business, its continued efforts to develop new products, international growth opportunities, strong financial positionand and growing cloud computing services are positives. However, macro headwinds, continued investments and increasing competition from Tencent Holdings and Baidu remain the overhangs.”
A number of other analysts also recently issued reports on BABA. Bank of America Corporation reaffirmed a “buy” rating and set a $161.00 price target (up from $144.00) on shares of Alibaba Group Holding Limited in a report on Sunday, June 11th. HSBC Holdings plc reaffirmed a “buy” rating and set a $162.00 price target (up from $145.00) on shares of Alibaba Group Holding Limited in a report on Sunday, June 11th. Benchmark Co. lifted their price target on Alibaba Group Holding Limited from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, June 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $160.00 price target (up from $122.00) on shares of Alibaba Group Holding Limited in a report on Monday, June 12th. Finally, Robert W. Baird lifted their target price on Alibaba Group Holding Limited from $135.00 to $170.00 and gave the stock an “outperform” rating in a research report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have given a buy rating and three have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $180.09.
Alibaba Group Holding Limited (BABA) opened at 177.32 on Monday. Alibaba Group Holding Limited has a 12-month low of $86.01 and a 12-month high of $184.70. The firm has a 50-day moving average price of $176.07 and a 200-day moving average price of $146.94. The company has a market cap of $450.92 billion, a P/E ratio of 58.85 and a beta of 2.60.
Alibaba Group Holding Limited (NYSE:BABA) last released its earnings results on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.21. The firm had revenue of $7.40 billion during the quarter, compared to analyst estimates of $7.16 billion. Alibaba Group Holding Limited had a return on equity of 16.85% and a net margin of 28.77%. During the same period last year, the business posted $0.74 earnings per share. On average, equities research analysts forecast that Alibaba Group Holding Limited will post $4.94 earnings per share for the current fiscal year.
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Several institutional investors have recently modified their holdings of BABA. Shine Investment Advisory Services Inc. purchased a new position in shares of Alibaba Group Holding Limited during the 2nd quarter worth $102,000. FNY Managed Accounts LLC acquired a new stake in shares of Alibaba Group Holding Limited during the 1st quarter worth $107,000. Lee Financial Co increased its holdings in shares of Alibaba Group Holding Limited by 45.5% during the 2nd quarter. Lee Financial Co now owns 800 shares of the specialty retailer’s stock worth $113,000 after buying an additional 250 shares during the last quarter. Winch Advisory Services LLC increased its holdings in shares of Alibaba Group Holding Limited by 147.4% during the 2nd quarter. Winch Advisory Services LLC now owns 809 shares of the specialty retailer’s stock worth $114,000 after buying an additional 482 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA acquired a new stake in shares of Alibaba Group Holding Limited during the 2nd quarter worth $116,000. 37.34% of the stock is currently owned by institutional investors.
Alibaba Group Holding Limited Company Profile
Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.
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