Cantor Fitzgerald Reiterates Buy Rating for Alibaba Group Holding Ltd. (BABA)
Alibaba Group Holding Ltd. (NYSE:BABA)‘s stock had its “buy” rating reissued by stock analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday.
BABA has been the subject of several other reports. Vetr raised Alibaba Group Holding from a “buy” rating to a “strong-buy” rating and set a $120.23 price objective for the company in a report on Tuesday, October 11th. JPMorgan Chase & Co. initiated coverage on Alibaba Group Holding in a report on Wednesday, August 31st. They issued an “overweight” rating and a $135.00 price target for the company. Morgan Stanley reissued an “overweight” rating and issued a $132.00 price target on shares of Alibaba Group Holding in a report on Friday, November 11th. Citigroup Inc. boosted their price target on Alibaba Group Holding from $112.00 to $133.00 and gave the stock a “buy” rating in a report on Thursday, October 27th. Finally, Needham & Company LLC boosted their price target on Alibaba Group Holding from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, October 20th. Three analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Alibaba Group Holding presently has a consensus rating of “Buy” and a consensus target price of $117.01.
Alibaba Group Holding (NYSE:BABA) opened at 92.985 on Monday. The stock has a market capitalization of $230.42 billion, a PE ratio of 48.888 and a beta of 2.93. Alibaba Group Holding has a 12-month low of $59.25 and a 12-month high of $109.87. The stock’s 50 day moving average price is $102.99 and its 200-day moving average price is $89.81.
Alibaba Group Holding (NYSE:BABA) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.10. The firm earned $5.14 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Alibaba Group Holding had a return on equity of 13.23% and a net margin of 26.44%. During the same period in the previous year, the firm posted $0.57 earnings per share. Analysts expect that Alibaba Group Holding will post $3.29 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of BABA. Salem Investment Counselors Inc. raised its position in shares of Alibaba Group Holding by 8.6% in the third quarter. Salem Investment Counselors Inc. now owns 11,400 shares of the company’s stock worth $1,206,000 after buying an additional 900 shares during the last quarter. Pioneer Investment Management Inc. increased its stake in shares of Alibaba Group Holding by 59.5% in the third quarter. Pioneer Investment Management Inc. now owns 79,886 shares of the company’s stock worth $8,451,000 after buying an additional 29,811 shares during the period. NS Partners Ltd increased its stake in shares of Alibaba Group Holding by 21.6% in the third quarter. NS Partners Ltd now owns 36,287 shares of the company’s stock worth $3,839,000 after buying an additional 6,454 shares during the period. Verition Fund Management LLC bought a new stake in shares of Alibaba Group Holding during the third quarter worth approximately $675,000. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of Alibaba Group Holding by 9.3% in the third quarter. Candriam Luxembourg S.C.A. now owns 330,258 shares of the company’s stock worth $34,938,000 after buying an additional 27,970 shares during the period. 31.91% of the stock is owned by hedge funds and other institutional investors.
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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