Alibaba Group Holding Ltd. (BABA) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Alibaba Group Holding Ltd. (NYSE:BABA) from a hold rating to a strong-buy rating in a report published on Friday morning. They currently have $117.00 price target on the stock.
According to Zacks, “Alibaba Group is a Chinese e-Commerce giant which caters mainly to its native market. Alibaba Group’s fiscal first-quarter results exceeded the Zacks Consensus Estimate. The solid growth in Alibaba’s China retail and mobile business as well as strength across most of the core operating metrics aided the results. The company’s dominance in the mobile commerce market, its continued efforts to develop new products, international growth opportunities and strong financial position are all positives. However, macro headwinds, continued investments and increasing competition from Tencent Holdings and Baidu remain the overhangs.”
BABA has been the subject of several other reports. Vetr raised Alibaba Group Holding from a buy rating to a strong-buy rating and set a $120.23 price target for the company in a research report on Tuesday, October 11th. JPMorgan Chase & Co. started coverage on Alibaba Group Holding in a research report on Wednesday, August 31st. They set an overweight rating and a $135.00 price target for the company. Brean Capital reissued a buy rating on shares of Alibaba Group Holding in a research report on Wednesday, August 31st. Bank of America Corp. reissued a buy rating and set a $117.00 price target (up from $110.00) on shares of Alibaba Group Holding in a research report on Tuesday, September 20th. Finally, Cantor Fitzgerald reissued a buy rating on shares of Alibaba Group Holding in a research report on Friday, September 9th. Two research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and three have issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $113.22.
Alibaba Group Holding (NYSE:BABA) opened at 103.34 on Friday. The firm has a 50-day moving average price of $103.74 and a 200 day moving average price of $87.19. The company has a market capitalization of $255.56 billion, a P/E ratio of 36.63 and a beta of 2.95. Alibaba Group Holding has a 12 month low of $59.25 and a 12 month high of $109.87.
Alibaba Group Holding (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned $0.59 earnings per share. Analysts expect that Alibaba Group Holding will post $3.29 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. increased its stake in Alibaba Group Holding by 2.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,594 shares of the company’s stock valued at $127,000 after buying an additional 39 shares during the period. Grassi Investment Management purchased a new stake in Alibaba Group Holding during the third quarter valued at $222,000. Cupps Capital Management LLC purchased a new stake in Alibaba Group Holding during the third quarter valued at $236,000. Harel Insurance Investments & Financial Services Ltd. increased its stake 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 valued at $191,000 after buying an additional 31 shares during the period. Finally, Osborn Rohs Williams & Donohoe Ltd purchased a new stake in Alibaba Group Holding during the third quarter valued at $261,000. 29.15% of the stock is currently owned by institutional investors.
Alibaba Group Holding Company Profile
Alibaba Group Holding Limited is a holding company. 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 (the PRC or China) and internationally.
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