Alibaba Group Holding Ltd. (BABA) Stock Rating Lowered by Zacks Investment Research
Alibaba Group Holding Ltd. (NYSE:BABA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday.
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.”
A number of other research analysts also recently issued reports on the company. SunTrust Banks Inc. increased their price objective on Alibaba Group Holding to $125.00 in a report on Wednesday. Vetr upgraded Alibaba Group Holding from a “buy” rating to a “strong-buy” rating and set a $120.23 price objective for the company in a report on Tuesday. Citigroup Inc. reiterated a “buy” rating and set a $138.00 price objective on shares of Alibaba Group Holding in a report on Thursday, September 29th. Deutsche Bank AG increased their price objective on Alibaba Group Holding from $109.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, September 29th. Finally, Daiwa Capital Markets increased their price objective on Alibaba Group Holding from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 28th. Three equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. Alibaba Group Holding presently has a consensus rating of “Buy” and a consensus target price of $110.89.
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Shares of Alibaba Group Holding (NYSE:BABA) traded down 2.1844% on Thursday, hitting $101.3565. The stock had a trading volume of 14,711,220 shares. The company has a market cap of $250.65 billion, a PE ratio of 35.9293 and a beta of 2.95. Alibaba Group Holding has a 52 week low of $59.25 and a 52 week high of $109.87. The stock’s 50-day moving average price is $102.81 and its 200 day moving average price is $86.43.
Alibaba Group Holding (NYSE:BABA) last posted its quarterly earnings data 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 business earned $4.84 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $0.59 earnings per share. On average, analysts predict that Alibaba Group Holding will post $3.29 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. British Airways Pensions Investment Management Ltd increased its position in shares of Alibaba Group Holding by 62.0% in the second quarter. British Airways Pensions Investment Management Ltd now owns 374,515 shares of the company’s stock worth $29,903,000 after buying an additional 143,364 shares in the last quarter. ClariVest Asset Management LLC increased its position in shares of Alibaba Group Holding by 131.5% in the second quarter. ClariVest Asset Management LLC now owns 158,111 shares of the company’s stock worth $12,574,000 after buying an additional 89,811 shares in the last quarter. Strs Ohio increased its position in shares of Alibaba Group Holding by 225.3% in the second quarter. Strs Ohio now owns 151,900 shares of the company’s stock worth $12,080,000 after buying an additional 105,200 shares in the last quarter. Jericho Capital Asset Management L.P. acquired a new position in shares of Alibaba Group Holding during the first quarter worth about $67,236,000. Finally, Legal & General Group Plc increased its position in shares of Alibaba Group Holding by 0.3% in the first quarter. Legal & General Group Plc now owns 1,024,408 shares of the company’s stock worth $80,944,000 after buying an additional 3,399 shares in the last quarter. 29.07% 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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