Alibaba Group Holding Ltd. (BABA) Rating Reiterated by Bank of America Corp.
Alibaba Group Holding Ltd. (NYSE:BABA)‘s stock had its “buy” rating restated by analysts at Bank of America Corp. in a report released on Tuesday. They presently have a $117.00 target price on the stock, up from their prior target price of $110.00. Bank of America Corp.’s price target suggests a potential upside of 13.56% from the company’s current price.
A number of other equities analysts have also recently commented on BABA. Brean Capital reissued a “buy” rating on shares of Alibaba Group Holding in a report on Tuesday, May 31st. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Alibaba Group Holding in a report on Wednesday, June 1st. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alibaba Group Holding in a report on Saturday, June 4th. Vetr raised Alibaba Group Holding from a “buy” rating to a “strong-buy” rating and set a $88.62 price target for the company in a report on Wednesday, June 1st. Finally, Evercore ISI increased their price target on Alibaba Group Holding from $98.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 12th. Three analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $105.93.
Alibaba Group Holding (NYSE:BABA) traded down 0.68% during trading on Tuesday, reaching $102.33. The company had a trading volume of 4,099,603 shares. The firm has a market capitalization of $253.06 billion, a price-to-earnings ratio of 36.29 and a beta of 2.97. The company’s 50-day moving average is $95.33 and its 200 day moving average is $82.66. Alibaba Group Holding has a 52 week low of $57.20 and a 52 week high of $105.50.
Alibaba Group Holding (NYSE:BABA) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. The company earned $4.84 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Alibaba Group Holding had a return on equity of 12.31% and a net margin of 42.95%. During the same quarter in the prior year, the firm posted $0.59 EPS. Equities analysts anticipate that Alibaba Group Holding will post $3.29 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. raised its position in Alibaba Group Holding by 1.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,407 shares of the company’s stock worth $191,000 after buying an additional 31 shares in the last quarter. Wedbush Securities Inc. raised its position in Alibaba Group Holding by 1.0% in the second quarter. Wedbush Securities Inc. now owns 3,198 shares of the company’s stock worth $254,000 after buying an additional 33 shares in the last quarter. Cornerstone Advisors Inc. raised its position in Alibaba Group Holding by 2.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,594 shares of the company’s stock worth $127,000 after buying an additional 39 shares in the last quarter. Integrated Wealth Management raised its position in Alibaba Group Holding by 2.1% in the second quarter. Integrated Wealth Management now owns 3,376 shares of the company’s stock worth $268,000 after buying an additional 70 shares in the last quarter. Finally, BOKF NA raised its position in Alibaba Group Holding by 0.8% in the second quarter. BOKF NA now owns 9,485 shares of the company’s stock worth $754,000 after buying an additional 73 shares in the last quarter. 29.00% of the stock is currently owned by hedge funds and other institutional investors.
Alibaba Group Holding Company Profile
Alibaba Group Holding Limited is a holding company. The Company is principally engaged in online and mobile commerce through products, services and technology. The Company provides retail and wholesale marketplaces available through both personal computer and mobile interfaces in the PRC and internationally.
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