Alibaba Group Holding Limited (NYSE:BABA) was upgraded by investment analysts at Raymond James Financial, Inc. to a “top pick” rating in a research report issued on Friday. The firm currently has a $220.00 price objective on the specialty retailer’s stock, up from their previous price objective of $190.00. Raymond James Financial, Inc.’s price target would suggest a potential upside of 31.34% from the company’s current price.

A number of other equities analysts also recently commented on the company. Robert W. Baird lifted their price objective on Alibaba Group Holding Limited to $190.00 and gave the stock an “outperform” rating in a research report on Friday. Bank of America Corporation raised their target price on Alibaba Group Holding Limited from $180.00 to $193.00 and gave the stock a “buy” rating in a research note on Friday. Macquarie raised their target price on Alibaba Group Holding Limited from $171.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday. UBS AG raised their target price on Alibaba Group Holding Limited from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday. Finally, KeyCorp set a $182.00 target price on Alibaba Group Holding Limited and gave the stock an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the stock. Alibaba Group Holding Limited has an average rating of “Buy” and a consensus target price of $161.60.

Alibaba Group Holding Limited (NYSE:BABA) traded up 2.18% during trading on Friday, hitting $167.50. The stock had a trading volume of 31,492,502 shares. Alibaba Group Holding Limited has a 12 month low of $86.01 and a 12 month high of $169.50. The company has a market cap of $425.95 billion, a PE ratio of 56.78 and a beta of 2.64. The company’s 50 day moving average is $152.41 and its 200-day moving average is $124.57. Alibaba Group Holding Limited also was the recipient of unusually large options trading on Wednesday. Investors bought 85,508 put options on the company. This represents an increase of approximately 228% compared to the average volume of 26,062 put options.

Alibaba Group Holding Limited (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 17th. The specialty retailer reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.21. Alibaba Group Holding Limited had a return on equity of 17.42% and a net margin of 28.77%. The firm had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $7.16 billion. During the same quarter last year, the business posted $0.74 earnings per share. On average, equities research analysts predict that Alibaba Group Holding Limited will post $4.74 earnings per share for the current year.

Alibaba Group Holding Limited declared that its board has initiated a stock buyback program on Thursday, May 18th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

WARNING: “Alibaba Group Holding Limited (BABA) Upgraded to Top Pick by Raymond James Financial, Inc.” was reported by Daily Political and is the sole property of of Daily Political. If you are accessing this article on another website, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this article can be viewed at https://www.dailypolitical.com/2017/08/19/alibaba-group-holding-limited-baba-upgraded-to-top-pick-by-raymond-james-financial-inc.html.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Alibaba Group Holding Limited by 2,538.7% in the first quarter. BlackRock Inc. now owns 56,989,001 shares of the specialty retailer’s stock valued at $6,145,123,000 after buying an additional 54,829,289 shares during the last quarter. Capital Research Global Investors boosted its position in Alibaba Group Holding Limited by 2.2% in the second quarter. Capital Research Global Investors now owns 33,618,382 shares of the specialty retailer’s stock valued at $4,736,830,000 after buying an additional 738,281 shares during the last quarter. FMR LLC boosted its position in Alibaba Group Holding Limited by 42.5% in the second quarter. FMR LLC now owns 25,278,081 shares of the specialty retailer’s stock valued at $3,561,681,000 after buying an additional 7,544,165 shares during the last quarter. Schroder Investment Management Group boosted its position in Alibaba Group Holding Limited by 3.3% in the first quarter. Schroder Investment Management Group now owns 24,415,309 shares of the specialty retailer’s stock valued at $2,657,606,000 after buying an additional 776,232 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its position in Alibaba Group Holding Limited by 10.4% in the first quarter. OppenheimerFunds Inc. now owns 21,635,868 shares of the specialty retailer’s stock valued at $2,332,996,000 after buying an additional 2,030,747 shares during the last quarter. Institutional investors own 36.81% of the company’s stock.

About Alibaba Group Holding Limited

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.

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 MarketBeat.com's FREE daily email newsletter.