Raymond James Cuts Alibaba Group (BABA) Price Target to $280.00

Alibaba Group (NYSE:BABA) had its price objective lowered by equities research analysts at Raymond James from $285.00 to $280.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has a “strong-buy” rating on the specialty retailer’s stock. Raymond James’ price objective suggests a potential upside of 58.21% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. TH Capital raised their target price on shares of Alibaba Group from $180.00 to $220.00 in a research note on Monday. Argus restated a “buy” rating on shares of Alibaba Group in a research report on Friday, February 1st. KeyCorp set a $200.00 price objective on shares of Alibaba Group and gave the company a “buy” rating in a research report on Wednesday, January 23rd. Nomura restated a “buy” rating and set a $205.00 price objective (up previously from $200.00) on shares of Alibaba Group in a research report on Thursday, January 31st. Finally, Citigroup restated a “buy” rating and set a $211.00 price objective (up previously from $208.00) on shares of Alibaba Group in a research report on Thursday, January 31st. One analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $216.67.

Alibaba Group stock traded up $2.14 during trading hours on Thursday, hitting $176.98. 7,750,221 shares of the company traded hands, compared to its average volume of 14,036,352. The stock has a market cap of $435.42 billion, a price-to-earnings ratio of 43.92, a PEG ratio of 1.41 and a beta of 2.27. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.20. Alibaba Group has a 1-year low of $129.77 and a 1-year high of $211.70.

Alibaba Group (NYSE:BABA) last released its earnings results on Wednesday, May 15th. The specialty retailer reported $8.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $7.82. The firm had revenue of $93.50 billion for the quarter, compared to analysts’ expectations of $91.68 billion. Alibaba Group had a net margin of 19.87% and a return on equity of 12.44%. Alibaba Group’s quarterly revenue was up 51.0% on a year-over-year basis. During the same quarter last year, the company earned $5.73 EPS. Research analysts expect that Alibaba Group will post 3.67 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Alibaba Group by 5.9% during the first quarter. BlackRock Inc. now owns 71,703,442 shares of the specialty retailer’s stock worth $13,082,292,000 after purchasing an additional 3,969,960 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of Alibaba Group by 3.6% during the first quarter. Baillie Gifford & Co. now owns 49,028,056 shares of the specialty retailer’s stock worth $8,945,169,000 after purchasing an additional 1,716,763 shares during the period. Vanguard Group Inc boosted its holdings in shares of Alibaba Group by 2.3% during the third quarter. Vanguard Group Inc now owns 37,571,661 shares of the specialty retailer’s stock worth $6,190,307,000 after purchasing an additional 849,659 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Alibaba Group by 15.5% during the first quarter. Wellington Management Group LLP now owns 17,150,380 shares of the specialty retailer’s stock worth $3,129,088,000 after purchasing an additional 2,301,412 shares during the period. Finally, FIL Ltd boosted its holdings in shares of Alibaba Group by 4.9% during the first quarter. FIL Ltd now owns 14,935,906 shares of the specialty retailer’s stock worth $2,725,056,000 after purchasing an additional 703,227 shares during the period. Institutional investors own 40.49% of the company’s stock.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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