Stifel Nicolaus Increases Alibaba Group Holding Ltd. (BABA) Price Target to $125.00
Alibaba Group Holding Ltd. (NYSE:BABA) had its price target increased by Stifel Nicolaus from $104.00 to $125.00 in a report released on Thursday. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 17.92% from the company’s previous close.
A number of other research analysts have also recently weighed in on the stock. Credit Suisse Group AG reiterated an “outperform” rating and issued a $114.00 target price (up from $110.00) on shares of Alibaba Group Holding in a research note on Wednesday, July 20th. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 target price (up from $95.00) on shares of Alibaba Group Holding in a research note on Saturday, August 13th. Cantor Fitzgerald reiterated a “buy” rating on shares of Alibaba Group Holding in a research note on Sunday, August 28th. Citigroup Inc. boosted their target price on shares of Alibaba Group Holding to $104.00 and gave the company a “buy” rating in a research note on Sunday, August 7th. Finally, Vetr upgraded shares of Alibaba Group Holding from a “hold” rating to a “buy” rating and set a $106.15 target price on the stock in a research note on Thursday, September 1st. Three research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $107.15.
Shares of Alibaba Group Holding (NYSE:BABA) opened at 106.00 on Thursday. The firm has a 50-day moving average of $96.45 and a 200-day moving average of $83.03. The firm has a market cap of $262.14 billion, a price-to-earnings ratio of 37.59 and a beta of 2.97. Alibaba Group Holding has a 12 month low of $57.20 and a 12 month high of $106.19.
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Alibaba Group Holding (NYSE:BABA) last released its earnings results on Thursday, August 11th. The company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.11. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $0.59 earnings per share. On average, analysts anticipate that Alibaba Group Holding will post $3.29 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Temasek Holdings Private Ltd raised its stake in Alibaba Group Holding by 13.7% in the second quarter. Temasek Holdings Private Ltd now owns 54,076,397 shares of the company’s stock worth $4,300,696,000 after buying an additional 6,526,596 shares in the last quarter. State Street Corp raised its stake in Alibaba Group Holding by 63.9% in the second quarter. State Street Corp now owns 16,141,308 shares of the company’s stock worth $1,283,715,000 after buying an additional 6,292,030 shares in the last quarter. BlackRock Fund Advisors raised its stake in Alibaba Group Holding by 84.5% in the second quarter. BlackRock Fund Advisors now owns 11,966,477 shares of the company’s stock worth $951,694,000 after buying an additional 5,481,106 shares in the last quarter. Schroder Investment Management Group raised its stake in Alibaba Group Holding by 25.5% in the second quarter. Schroder Investment Management Group now owns 19,550,484 shares of the company’s stock worth $1,554,850,000 after buying an additional 3,977,085 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Alibaba Group Holding by 29.4% in the second quarter. Jennison Associates LLC now owns 17,020,126 shares of the company’s stock worth $1,353,611,000 after buying an additional 3,865,177 shares in the last quarter. Institutional investors and hedge funds own 28.97% of the company’s stock.
About Alibaba Group Holding
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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