Alibaba Group Holding Limited (BABA) Issues Earnings Results
Alibaba Group Holding Limited (NYSE:BABA) announced its quarterly earnings data on Thursday. The specialty retailer reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.21, Morningstar.com reports. The company had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.16 billion. Alibaba Group Holding Limited had a return on equity of 15.40% and a net margin of 27.51%. During the same quarter last year, the firm posted $0.74 EPS.
Alibaba Group Holding Limited (BABA) traded up 0.65% during midday trading on Friday, reaching $164.98. The company had a trading volume of 3,904,217 shares. The firm’s 50-day moving average price is $151.65 and its 200 day moving average price is $124.10. The firm has a market capitalization of $417.40 billion, a PE ratio of 65.29 and a beta of 2.64. Alibaba Group Holding Limited has a 12 month low of $86.01 and a 12 month high of $168.00. Alibaba Group Holding Limited also was the recipient of some unusual options trading on Wednesday. Stock investors bought 85,508 put options on the company. This is an increase of approximately 228% compared to the average daily volume of 26,062 put options.
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Alibaba Group Holding Limited announced that its board has authorized a stock repurchase program on Thursday, May 18th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of research analysts have weighed in on BABA shares. Barclays PLC raised their price objective on Alibaba Group Holding Limited to $180.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada restated a “buy” rating and issued a $120.00 price objective on shares of Alibaba Group Holding Limited in a report on Tuesday, May 16th. Zacks Investment Research upgraded Alibaba Group Holding Limited from a “hold” rating to a “strong-buy” rating and set a $157.00 price objective on the stock in a report on Thursday, June 15th. BidaskClub lowered Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, CIBC raised their price objective on Alibaba Group Holding Limited from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $151.29.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Cookson Peirce & Co. Inc. acquired a new position in shares of Alibaba Group Holding Limited during the second quarter worth approximately $479,000. Beaton Management Co. Inc. acquired a new position in shares of Alibaba Group Holding Limited during the second quarter worth approximately $592,000. Wasatch Advisors Inc. increased its position in shares of Alibaba Group Holding Limited by 1,071.7% in the second quarter. Wasatch Advisors Inc. now owns 233,097 shares of the specialty retailer’s stock worth $32,843,000 after buying an additional 213,203 shares in the last quarter. Gofen & Glossberg LLC IL acquired a new position in shares of Alibaba Group Holding Limited during the second quarter worth approximately $236,000. Finally, Cypress Wealth Advisors LLC acquired a new position in shares of Alibaba Group Holding Limited during the second quarter worth approximately $214,000. 36.81% of the stock is owned by hedge funds and other institutional investors.
Alibaba Group Holding Limited Company Profile
Alibaba Group Holding Limited is a holding company. Through its subsidiaries, 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 (China) and internationally.
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