J P Morgan Chase & Co Raises Alibaba Group Holding Limited (BABA) Price Target to $205.00
Alibaba Group Holding Limited (NYSE:BABA) had its price objective upped by equities research analysts at J P Morgan Chase & Co to $205.00 in a report issued on Friday, The Fly reports. The firm currently has an “overweight” rating on the specialty retailer’s stock. J P Morgan Chase & Co’s price target would indicate a potential upside of 25.06% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other equities research analysts also recently commented on the company. Royal Bank Of Canada lifted their target price on Alibaba Group Holding Limited from $160.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday. Vetr downgraded Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $175.06 price objective on the stock. in a report on Wednesday. Stifel Nicolaus reiterated a “buy” rating and issued a $139.00 price objective on shares of Alibaba Group Holding Limited in a report on Friday, June 9th. BidaskClub upgraded Alibaba Group Holding Limited from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 10th. Finally, Zacks Investment Research upgraded Alibaba Group Holding Limited from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $151.29.
Shares of Alibaba Group Holding Limited (BABA) opened at 163.92 on Friday. The stock has a market cap of $414.72 billion, a price-to-earnings ratio of 64.87 and a beta of 2.64. Alibaba Group Holding Limited has a 52-week low of $86.01 and a 52-week high of $168.00. The stock’s 50 day moving average is $151.65 and its 200 day moving average is $124.10. Alibaba Group Holding Limited also saw some unusual options trading on Wednesday. Stock investors bought 85,508 put options on the stock. This is an increase of 228% compared to the average volume of 26,062 put options.
Alibaba Group Holding Limited (NYSE:BABA) last issued its quarterly earnings results on Thursday, August 17th. The specialty retailer reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.44. The firm 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 period in the previous year, the company posted $0.74 earnings per share. On average, equities analysts predict that Alibaba Group Holding Limited will post $4.65 EPS for the current fiscal year.
Alibaba Group Holding Limited declared that its Board of Directors has approved a share repurchase plan on Thursday, May 18th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in BABA. Cookson Peirce & Co. Inc. purchased a new position in shares of Alibaba Group Holding Limited during the second quarter worth approximately $479,000. Beaton Management Co. Inc. purchased 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 during the period. Gofen & Glossberg LLC IL purchased a new position in shares of Alibaba Group Holding Limited during the second quarter worth approximately $236,000. Finally, Cypress Wealth Advisors LLC purchased 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 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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