Alibaba Group Holding Ltd. (NYSE:BABA)‘s stock had its “buy” rating reissued by equities researchers at Bank of America Corp. in a note issued to investors on Tuesday. They presently have a $117.00 price objective on the stock, up from their prior price objective of $110.00. Bank of America Corp.’s price target would suggest a potential upside of 15.44% from the stock’s previous close.

BABA has been the topic of several other research reports. HSBC reiterated a “buy” rating and set a $113.00 price objective on shares of Alibaba Group Holding in a research note on Saturday, June 4th. Cantor Fitzgerald reiterated a “buy” rating on shares of Alibaba Group Holding in a research note on Saturday, June 4th. RBC Capital Markets reiterated an “outperform” rating and set a $105.00 price objective on shares of Alibaba Group Holding in a research note on Thursday, August 11th. Brean Capital reiterated a “buy” rating on shares of Alibaba Group Holding in a research note on Tuesday, June 7th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Alibaba Group Holding in a research note on Monday, June 27th. Three investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $105.93.

Analyst Recommendations for Alibaba Group Holding (NYSE:BABA)

Shares of Alibaba Group Holding (NYSE:BABA) traded down 1.63% during midday trading on Tuesday, reaching $101.35. The company’s stock had a trading volume of 12,392,278 shares. The stock has a 50 day moving average of $95.33 and a 200-day moving average of $82.66. The company has a market capitalization of $250.64 billion, a P/E ratio of 35.94 and a beta of 2.97. Alibaba Group Holding has a 1-year low of $57.20 and a 1-year high of $105.50.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/bank-of-america-corp-reiterates-buy-rating-for-alibaba-group-holding-ltd-baba.html

Alibaba Group Holding (NYSE:BABA) last issued its earnings results on Thursday, August 11th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.57 billion. Alibaba Group Holding had a net margin of 42.95% and a return on equity of 12.31%. During the same quarter in the prior year, the business posted $0.59 EPS. On average, equities research analysts anticipate that Alibaba Group Holding will post $3.29 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in BABA. Cornerstone Advisors Inc. boosted 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 valued at $127,000 after buying an additional 39 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted 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 valued at $191,000 after buying an additional 31 shares during the last quarter. Pinnacle Financial Partners Inc. bought a new position in Alibaba Group Holding during the second quarter valued at approximately $201,000. Tokio Marine Asset Management Co. Ltd. bought a new position in Alibaba Group Holding during the second quarter valued at approximately $207,000. Finally, United Asset Strategies Inc. bought a new position in Alibaba Group Holding during the second quarter valued at approximately $210,000. Hedge funds and other institutional investors own 29.00% of the company’s stock.

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.

5 Day Chart for NYSE:BABA

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