SunTrust Banks Inc. Increases Alibaba Group Holding Ltd. (BABA) Price Target to $125.00
Alibaba Group Holding Ltd. (NYSE:BABA) had its price objective boosted by equities researchers at SunTrust Banks Inc. to $125.00 in a research report issued to clients and investors on Wednesday. SunTrust Banks Inc.’s price objective would indicate a potential upside of 18.79% from the stock’s current price.
Other equities analysts also recently issued reports about the stock. Vetr upgraded shares of Alibaba Group Holding from a “buy” rating to a “strong-buy” rating and set a $120.23 price objective for the company in a research note on Tuesday. Citigroup Inc. restated a “buy” rating and set a $138.00 price objective on shares of Alibaba Group Holding in a research note on Thursday, September 29th. Deutsche Bank AG increased their price objective on shares of Alibaba Group Holding from $109.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, September 29th. Daiwa Capital Markets increased their price objective on shares of Alibaba Group Holding from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 28th. Finally, Morgan Stanley restated an “overweight” rating and set a $132.00 price objective on shares of Alibaba Group Holding in a research note on Tuesday, September 27th. Three investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $110.89.
Alibaba Group Holding (NYSE:BABA) traded down 1.27% during mid-day trading on Wednesday, reaching $103.89. The company had a trading volume of 4,440,750 shares. Alibaba Group Holding has a 12 month low of $59.25 and a 12 month high of $109.87. The stock has a market cap of $256.92 billion, a PE ratio of 36.83 and a beta of 2.95. The firm’s 50-day moving average price is $102.58 and its 200-day moving average price is $86.31.
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/2016/10/12/suntrust-banks-inc-increases-alibaba-group-holding-ltd-baba-price-target-to-125-00.html
Alibaba Group Holding (NYSE:BABA) last released its earnings results on Thursday, August 11th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.11. The firm 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 company earned $0.59 EPS. Equities research analysts forecast that Alibaba Group Holding will post $3.29 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in BABA. Cornerstone Advisors Inc. boosted its position in shares of 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 during the period. Grassi Investment Management purchased a new position in shares of Alibaba Group Holding during the third quarter worth about $222,000. Cupps Capital Management LLC purchased a new position in shares of Alibaba Group Holding during the third quarter worth about $236,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of 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 during the period. Finally, Pinnacle Financial Partners Inc. purchased a new position in shares of Alibaba Group Holding during the second quarter worth about $201,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.
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.
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.