Zacks Investment Research Upgrades Alibaba Group Holding Limited (BABA) to “Buy”

Zacks Investment Research upgraded shares of Alibaba Group Holding Limited (NYSE:BABA) from a hold rating to a buy rating in a report published on Wednesday. Zacks Investment Research currently has $211.00 price target on the specialty retailer’s stock.

According to Zacks, “Alibaba Group is a Chinese e-Commerce giant which caters mainly to its native market. The company delivered strong fiscal second-quarter results driven by robust growth in core e-commerce business. Other drivers include strong mobile and international strength. Also, on a year to date basis, the stock has outperformed the industry it belongs to. Alibaba’s strong core e-commerce business, its continued efforts to develop new products, international growth opportunities, strong financial position 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 have also weighed in on the company. Oppenheimer Holdings, Inc. reiterated a buy rating and issued a $220.00 target price (up previously from $200.00) on shares of Alibaba Group Holding Limited in a research note on Monday, November 6th. SunTrust Banks, Inc. reiterated a buy rating and issued a $210.00 target price on shares of Alibaba Group Holding Limited in a research note on Friday, November 3rd. KeyCorp reiterated a buy rating on shares of Alibaba Group Holding Limited in a research note on Friday, November 3rd. Robert W. Baird increased their target price on Alibaba Group Holding Limited from $190.00 to $210.00 and gave the stock an outperform rating in a research note on Friday, November 3rd. Finally, Needham & Company LLC increased their target price on Alibaba Group Holding Limited from $190.00 to $215.00 and gave the stock a buy rating in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $184.20.

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded up $1.28 on Wednesday, reaching $186.41. The company had a trading volume of 15,020,899 shares, compared to its average volume of 19,081,156. The company has a market capitalization of $477,424.75, a P/E ratio of 54.19, a PEG ratio of 1.41 and a beta of 2.61. Alibaba Group Holding Limited has a 12 month low of $86.01 and a 12 month high of $191.22. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.71 and a current ratio of 1.71.

Alibaba Group Holding Limited (NYSE:BABA) last issued its quarterly earnings results on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.21. Alibaba Group Holding Limited had a return on equity of 17.89% and a net margin of 30.87%. The company had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $7.16 billion. During the same period last year, the company earned $0.74 earnings per share. sell-side analysts anticipate that Alibaba Group Holding Limited will post 4.31 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Zacks Investment Research Upgrades Alibaba Group Holding Limited (BABA) to “Buy”” was published by BBNS and is the sole property of of BBNS. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be read at https://baseballnewssource.com/markets/zacks-investment-research-upgrades-alibaba-group-holding-limited-baba-to-buy/1766826.html.

Several institutional investors have recently added to or reduced their stakes in the stock. Third Point LLC lifted its holdings in shares of Alibaba Group Holding Limited by 46.7% during the third quarter. Third Point LLC now owns 6,600,000 shares of the specialty retailer’s stock worth $1,139,886,000 after purchasing an additional 2,100,000 shares during the period. Dai Ichi Life Insurance Company Ltd lifted its holdings in Alibaba Group Holding Limited by 2.5% in the third quarter. Dai Ichi Life Insurance Company Ltd now owns 271,465 shares of the specialty retailer’s stock valued at $46,885,000 after acquiring an additional 6,640 shares during the period. BKS Advisors LLC lifted its holdings in Alibaba Group Holding Limited by 22.8% in the third quarter. BKS Advisors LLC now owns 14,403 shares of the specialty retailer’s stock valued at $2,488,000 after acquiring an additional 2,675 shares during the period. Axiom International Investors LLC DE lifted its holdings in Alibaba Group Holding Limited by 7.5% in the third quarter. Axiom International Investors LLC DE now owns 2,622,902 shares of the specialty retailer’s stock valued at $453,001,000 after acquiring an additional 182,989 shares during the period. Finally, Zevenbergen Capital Investments LLC lifted its holdings in Alibaba Group Holding Limited by 1,215.2% in the third quarter. Zevenbergen Capital Investments LLC now owns 280,697 shares of the specialty retailer’s stock valued at $48,479,000 after acquiring an additional 259,355 shares during the period. 37.45% of the stock is owned by hedge funds and other 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.

Get a free copy of the Zacks research report on Alibaba Group Holding Limited (BABA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Alibaba Group Holding Limited (NYSE:BABA)

Receive News & Ratings for Alibaba Group Holding Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group Holding Limited and related companies with our FREE daily email newsletter.

 


Latest News

Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Brandon Morrow Becomes Hot Commodity
Brandon Morrow Becomes Hot Commodity
Red Sox Want Sluggers, Giancarlo Stanton May Become Available
Red Sox Want Sluggers, Giancarlo Stanton May Become Available


Leave a Reply

 
© 2006-2017 BBNS.