Alibaba Group Holding Ltd. (BABA) Upgraded by Zacks Investment Research to Strong-Buy
Alibaba Group Holding Ltd. (NYSE:BABA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Friday. The firm presently has a $117.00 price objective on the stock. Zacks Investment Research’s price target would indicate a potential upside of 14.54% from the company’s current price.
According to Zacks, “Alibaba Group is a Chinese e-Commerce giant which caters mainly to its native market. Alibaba Group’s fiscal first-quarter results exceeded the Zacks Consensus Estimate. The solid growth in Alibaba’s China retail and mobile business as well as strength across most of the core operating metrics aided the results. The company’s dominance in the mobile commerce market, its continued efforts to develop new products, international growth opportunities and strong financial position are all positives. However, macro headwinds, continued investments and increasing competition from Tencent Holdings and Baidu remain the overhangs.”
Other research analysts have also issued research reports about the company. RBC Capital Markets reiterated an “outperform” rating and issued a $105.00 target price on shares of Alibaba Group Holding in a research report on Thursday, August 11th. Needham & Company LLC reiterated a “buy” rating on shares of Alibaba Group Holding in a research report on Monday, June 27th. Raymond James Financial Inc. upgraded Alibaba Group Holding from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $95.00 to $124.00 in a research report on Friday, August 12th. Evercore ISI restated a “buy” rating and set a $98.00 price objective on shares of Alibaba Group Holding in a research report on Tuesday, July 26th. Finally, Wedbush boosted their price objective on Alibaba Group Holding from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, August 12th. Two equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and three have given a strong buy rating to the company’s stock. Alibaba Group Holding has a consensus rating of “Buy” and a consensus price target of $112.19.
Alibaba Group Holding (NYSE:BABA) opened at 102.15 on Friday. The firm has a 50-day moving average price of $103.04 and a 200 day moving average price of $86.54. The stock has a market cap of $252.62 billion, a PE ratio of 36.21 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.
Alibaba Group Holding (NYSE:BABA) last issued its earnings results on Thursday, August 11th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.63 by $0.11. The company earned $4.84 billion during the quarter, compared to analyst estimates of $4.57 billion. Alibaba Group Holding had a return on equity of 12.31% and a net margin of 42.95%. During the same quarter last year, the firm earned $0.59 EPS. Equities analysts anticipate that Alibaba Group Holding will post $3.29 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in BABA. Value Partners Ltd. ADV raised its stake in Alibaba Group Holding by 2,281.0% in the first quarter. Value Partners Ltd. ADV now owns 150,000 shares of the company’s stock valued at $11,855,000 after buying an additional 143,700 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in Alibaba Group Holding by 16.1% in the first quarter. Pictet Asset Management Ltd. now owns 1,046,338 shares of the company’s stock worth $71,999,000 after buying an additional 145,329 shares during the period. UBS Asset Management Americas Inc. raised its stake in Alibaba Group Holding by 193.7% in the first quarter. UBS Asset Management Americas Inc. now owns 5,060,947 shares of the company’s stock worth $399,967,000 after buying an additional 3,337,825 shares during the period. Primecap Management Co. CA raised its stake in Alibaba Group Holding by 15.8% in the first quarter. Primecap Management Co. CA now owns 15,674,905 shares of the company’s stock worth $1,238,788,000 after buying an additional 2,133,100 shares during the period. Finally, Scotia Capital Inc. raised its stake in Alibaba Group Holding by 127.8% in the first quarter. Scotia Capital Inc. now owns 23,694 shares of the company’s stock worth $1,874,000 after buying an additional 108,979 shares during the period. Institutional investors own 29.07% of the company’s stock.
Alibaba Group Holding Company Profile
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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