Alibaba Group Holding Ltd. (BABA) Stock Rating Upgraded by Zacks Investment Research
Alibaba Group Holding Ltd. (NYSE:BABA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Friday. The firm presently has a $117.00 price target on the stock. Zacks Investment Research’s target price would indicate a potential upside of 14.54% from the stock’s current price.
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.”
Other equities research analysts have also recently issued reports about the stock. Deutsche Bank AG reiterated a “buy” rating and issued a $110.00 target price on shares of Alibaba Group Holding in a research report on Friday, June 17th. Jefferies Group increased their target price on shares of Alibaba Group Holding from $86.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, July 22nd. JPMorgan Chase & Co. increased their target price on shares of Alibaba Group Holding from $96.00 to $129.00 and gave the company an “overweight” rating in a research report on Friday, August 12th. SunTrust Banks Inc. reiterated a “buy” rating and issued a $90.00 target price on shares of Alibaba Group Holding in a research report on Thursday, June 30th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $105.00 target price on shares of Alibaba Group Holding in a research report on Thursday, August 11th. Two equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and three have given a strong buy rating to the company. Alibaba Group Holding has a consensus rating of “Buy” and an average target price of $112.19.
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Alibaba Group Holding (NYSE:BABA) traded up 1.09% during trading on Friday, reaching $103.26. The company’s stock had a trading volume of 2,387,251 shares. The firm has a market cap of $255.36 billion, a PE ratio of 36.60 and a beta of 2.95. The company has a 50-day moving average of $103.04 and a 200 day moving average of $86.54. Alibaba Group Holding has a one year low of $59.25 and a one year high of $109.87.
Alibaba Group Holding (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.11. The company earned $4.84 billion during 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 prior year, the business posted $0.59 earnings per share. Analysts expect that Alibaba Group Holding will post $3.29 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the stock. ING Groep NV raised its position in Alibaba Group Holding by 72.0% in the first quarter. ING Groep NV now owns 33,494 shares of the company’s stock worth $2,647,000 after buying an additional 14,023 shares during the period. Aviva PLC raised its position in Alibaba Group Holding by 5.3% in the first quarter. Aviva PLC now owns 73,700 shares of the company’s stock worth $5,825,000 after buying an additional 3,700 shares during the period. BB&T Securities LLC raised its position in Alibaba Group Holding by 5.1% in the first quarter. BB&T Securities LLC now owns 4,161 shares of the company’s stock worth $328,000 after buying an additional 202 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Alibaba Group Holding by 16.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,179,214 shares of the company’s stock worth $172,223,000 after buying an additional 315,601 shares during the period. Finally, Cupps Capital Management LLC raised its position in Alibaba Group Holding by 23.8% in the first quarter. Cupps Capital Management LLC now owns 3,059 shares of the company’s stock worth $241,000 after buying an additional 589 shares during the period. Hedge funds and other institutional investors own 29.07% of the company’s stock.
About Alibaba Group Holding
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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