Alibaba Group Holding Limited (NYSE:BABA) had its target price lifted by MKM Partners from $177.00 to $220.00 in a research report released on Wednesday morning, Marketbeat reports. They currently have a buy rating on the specialty retailer’s stock.
A number of other research analysts have also recently issued reports on BABA. Vetr cut shares of Alibaba Group Holding Limited from a buy rating to a hold rating and set a $178.60 price objective for the company. in a report on Tuesday. Needham & Company LLC boosted their price objective on shares of Alibaba Group Holding Limited from $155.00 to $190.00 and gave the company a buy rating in a report on Friday, August 18th. Royal Bank Of Canada boosted their price objective on shares of Alibaba Group Holding Limited from $160.00 to $185.00 and gave the company an outperform rating in a report on Friday, August 18th. SunTrust Banks, Inc. boosted their price objective on shares of Alibaba Group Holding Limited from $175.00 to $200.00 and gave the company a buy rating in a report on Wednesday. Finally, KeyCorp set a $182.00 price objective on shares of Alibaba Group Holding Limited and gave the company an overweight rating in a report on Friday, August 18th. 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 stock. Alibaba Group Holding Limited presently has an average rating of Buy and a consensus price target of $167.32.
Alibaba Group Holding Limited (NYSE:BABA) opened at 171.74 on Wednesday. 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 price is $156.44 and its 200 day moving average price is $127.15. The firm has a market capitalization of $436.73 billion, a P/E ratio of 58.22 and a beta of 2.64.
Alibaba Group Holding Limited (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.21. The firm had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $7.16 billion. Alibaba Group Holding Limited had a net margin of 28.77% and a return on equity of 16.85%. During the same quarter in the previous year, the company earned $0.74 earnings per share. Analysts anticipate that Alibaba Group Holding Limited will post $4.97 EPS for the current year.
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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 an indication that the company’s board of directors believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of Alibaba Group Holding Limited by 0.9% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 2,563 shares of the specialty retailer’s stock worth $276,000 after buying an additional 23 shares during the period. Ronald Blue & Co. LLC raised its position in shares of Alibaba Group Holding Limited by 0.7% in the second quarter. Ronald Blue & Co. LLC now owns 3,458 shares of the specialty retailer’s stock worth $487,000 after buying an additional 25 shares during the period. Cornerstone Advisors Inc. raised its position in shares of Alibaba Group Holding Limited by 1.3% in the second quarter. Cornerstone Advisors Inc. now owns 2,259 shares of the specialty retailer’s stock worth $318,000 after buying an additional 30 shares during the period. Comerica Securities Inc. raised its position in shares of Alibaba Group Holding Limited by 1.9% in the first quarter. Comerica Securities Inc. now owns 2,527 shares of the specialty retailer’s stock worth $272,000 after buying an additional 47 shares during the period. Finally, Mosaic Family Wealth LLC raised its position in shares of Alibaba Group Holding Limited by 2.9% in the second quarter. Mosaic Family Wealth LLC now owns 1,852 shares of the specialty retailer’s stock worth $261,000 after buying an additional 52 shares during the period. Institutional investors and hedge funds own 36.81% 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.
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