Alibaba Group Holding Limited (NYSE:BABA) Cut to “Buy” at BidaskClub

Alibaba Group Holding Limited (NYSE:BABA) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday, July 25th.

Several other analysts have also recently weighed in on BABA. Zacks Investment Research cut Alibaba Group Holding Limited from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 28th. Barclays PLC initiated coverage on Alibaba Group Holding Limited in a report on Tuesday, March 28th. They set an “overweight” rating and a $130.00 price target on the stock. Sanford C. Bernstein restated an “outperform” rating and set a $130.00 price target (up from $117.00) on shares of Alibaba Group Holding Limited in a report on Sunday, April 2nd. Benchmark Co. started coverage on Alibaba Group Holding Limited in a research note on Tuesday, April 18th. They issued a “buy” rating and a $140.00 price objective on the stock. Finally, MKM Partners reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Alibaba Group Holding Limited in a research note on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-one have assigned a buy rating and three have given a strong buy rating to the stock. Alibaba Group Holding Limited currently has an average rating of “Buy” and an average price target of $142.21.

Shares of Alibaba Group Holding Limited (NYSE BABA) traded down 0.05% during trading on Tuesday, hitting $151.70. 22,327,427 shares of the stock traded hands. The company has a market cap of $383.80 billion, a PE ratio of 60.03 and a beta of 2.64. Alibaba Group Holding Limited has a 1-year low of $86.01 and a 1-year high of $160.39. The company has a 50 day moving average of $149.81 and a 200-day moving average of $122.49.

Alibaba Group Holding Limited (NYSE:BABA) last released its quarterly earnings results on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.26 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 $0.47 earnings per share. On average, equities analysts anticipate that Alibaba Group Holding Limited will post $4.64 EPS for the current fiscal year.

Alibaba Group Holding Limited declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 18th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Shine Investment Advisory Services Inc. purchased a new position in shares of Alibaba Group Holding Limited during the second quarter worth approximately $102,000. FNY Managed Accounts LLC purchased a new position in shares of Alibaba Group Holding Limited during the first quarter worth approximately $107,000. Lee Financial Co boosted its position in shares of Alibaba Group Holding Limited by 45.5% in the second quarter. Lee Financial Co now owns 800 shares of the specialty retailer’s stock worth $113,000 after buying an additional 250 shares in the last quarter. Winch Advisory Services LLC boosted its position in shares of Alibaba Group Holding Limited by 147.4% in the second quarter. Winch Advisory Services LLC now owns 809 shares of the specialty retailer’s stock worth $114,000 after buying an additional 482 shares in the last quarter. Finally, Webster Bank N. A. boosted its position in shares of Alibaba Group Holding Limited by 25.0% in the first quarter. Webster Bank N. A. now owns 1,175 shares of the specialty retailer’s stock worth $127,000 after buying an additional 235 shares in the last quarter. 36.75% of the stock is currently 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.

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

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