Alibaba Group Holding Limited (NYSE:BABA)‘s stock had its “buy” rating reiterated by equities researchers at Bank of America Corporation in a research note issued to investors on Thursday. They presently have a $193.00 target price on the specialty retailer’s stock. Bank of America Corporation’s price target suggests a potential upside of 14.79% from the stock’s current price.

BABA has been the topic of several other reports. Vetr upgraded Alibaba Group Holding Limited from a “hold” rating to a “buy” rating and set a $180.41 target price on the stock in a research note on Monday, August 28th. Stifel Nicolaus boosted their target price on Alibaba Group Holding Limited from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, August 21st. BidaskClub lowered Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Oppenheimer Holdings, Inc. boosted their target price on Alibaba Group Holding Limited to $200.00 and gave the company an “outperform” rating in a research note on Sunday. Finally, Goldman Sachs Group, Inc. (The) set a $179.00 target price on Alibaba Group Holding Limited and gave the company a “buy” rating in a research note on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-two have issued a buy rating and three have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $169.17.

Alibaba Group Holding Limited (NYSE:BABA) traded up 1.430% during trading on Thursday, reaching $170.545. The company’s stock had a trading volume of 8,036,035 shares. Alibaba Group Holding Limited has a 12 month low of $86.01 and a 12 month high of $177.00. The company’s 50-day moving average is $160.92 and its 200-day moving average is $130.95. The stock has a market cap of $433.70 billion, a PE ratio of 57.871 and a beta of 2.62.

Alibaba Group Holding Limited (NYSE:BABA) last issued its quarterly earnings results on Thursday, August 17th. The specialty retailer reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.21. The business 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 16.85% and a net margin of 28.77%. During the same period last year, the company posted $0.74 earnings per share. Equities analysts expect that Alibaba Group Holding Limited will post $5.07 EPS for the current fiscal year.

Alibaba Group Holding Limited announced that its Board of Directors has authorized a stock repurchase plan on Thursday, May 18th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in Alibaba Group Holding Limited by 4.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 47,222 shares of the specialty retailer’s stock valued at $5,092,000 after acquiring an additional 1,912 shares during the period. Swiss National Bank boosted its holdings in Alibaba Group Holding Limited by 12.5% during the 1st quarter. Swiss National Bank now owns 2,609,043 shares of the specialty retailer’s stock valued at $281,333,000 after acquiring an additional 289,800 shares during the period. Sylebra HK Co Ltd boosted its holdings in Alibaba Group Holding Limited by 0.5% during the 1st quarter. Sylebra HK Co Ltd now owns 347,680 shares of the specialty retailer’s stock valued at $37,490,000 after acquiring an additional 1,631 shares during the period. Johnston Asset Management LLC boosted its holdings in Alibaba Group Holding Limited by 0.6% during the 1st quarter. Johnston Asset Management LLC now owns 874,460 shares of the specialty retailer’s stock valued at $94,293,000 after acquiring an additional 5,090 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Alibaba Group Holding Limited by 18.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 105,849 shares of the specialty retailer’s stock valued at $14,914,000 after acquiring an additional 16,528 shares during the period. Institutional investors own 37.40% of the company’s stock.

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.

Analyst Recommendations for Alibaba Group Holding Limited (NYSE:BABA)

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