Vetr upgraded shares of Alibaba Group Holding Ltd. (NYSE:BABA) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday. Vetr currently has $120.23 price objective on the stock.

Several other research analysts have also issued reports on the stock. Credit Suisse Group AG reiterated an outperform rating and issued a $114.00 price target (up from $110.00) on shares of Alibaba Group Holding in a research note on Wednesday, July 20th. Citigroup Inc. reiterated a buy rating and issued a $138.00 price target on shares of Alibaba Group Holding in a research note on Thursday, September 29th. Needham & Company LLC reiterated a buy rating and issued a $105.00 price target (up from $95.00) on shares of Alibaba Group Holding in a research note on Saturday, August 13th. Cantor Fitzgerald reiterated a buy rating on shares of Alibaba Group Holding in a research note on Sunday, August 28th. Finally, Robert W. Baird reiterated an outperform rating and issued a $94.00 price target on shares of Alibaba Group Holding in a research note on Tuesday, June 21st. Three analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $109.83.

Alibaba Group Holding (NYSE:BABA) opened at 105.23 on Tuesday. The company has a market cap of $260.23 billion, a P/E ratio of 37.30 and a beta of 2.95. Alibaba Group Holding has a 52 week low of $59.25 and a 52 week high of $109.87. The company’s 50-day moving average is $102.58 and its 200-day moving average is $86.31.

Alibaba Group Holding (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.11. Alibaba Group Holding had a net margin of 42.95% and a return on equity of 12.31%. The business earned $4.84 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the business earned $0.59 EPS. On average, analysts anticipate that Alibaba Group Holding will post $3.29 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cornerstone Advisors Inc. increased its position in shares of Alibaba Group Holding by 2.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,594 shares of the company’s stock valued at $127,000 after buying an additional 39 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Alibaba Group Holding by 1.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,407 shares of the company’s stock valued at $191,000 after buying an additional 31 shares during the last quarter. Pinnacle Financial Partners Inc. acquired a new position in shares of Alibaba Group Holding during the second quarter valued at $201,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Alibaba Group Holding during the second quarter valued at $207,000. Finally, United Asset Strategies Inc. acquired a new position in shares of Alibaba Group Holding during the second quarter valued at $210,000. 29.07% of the stock is owned by institutional investors and hedge funds.

About Alibaba Group Holding

Alibaba Group Holding Limited is a holding company. 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 (the PRC or China) and internationally.

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