Alibaba Group Holding’s (BABA) “Buy” Rating Reiterated at Needham & Company LLC
Alibaba Group Holding Ltd. (NYSE:BABA)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research note issued on Saturday. They currently have a $125.00 price objective on the stock. Needham & Company LLC’s price objective indicates a potential upside of 34.39% from the company’s previous close.
Other research analysts have also issued research reports about the company. T.H. Capital upped their price target on Alibaba Group Holding from $84.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Evercore ISI upped their price target on Alibaba Group Holding from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $95.00 price target on shares of Alibaba Group Holding in a research report on Monday, August 8th. Citigroup Inc. upped their price target on Alibaba Group Holding to $104.00 and gave the company a “buy” rating in a research report on Sunday, August 7th. Finally, MKM Partners set a $95.00 price target on Alibaba Group Holding and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $117.01.
Shares of Alibaba Group Holding (NYSE:BABA) traded down 0.02% on Friday, hitting $93.01. The company had a trading volume of 4,868,511 shares. The stock has a market capitalization of $230.48 billion, a PE ratio of 48.93 and a beta of 2.93. The firm’s 50 day moving average price is $99.27 and its 200-day moving average price is $90.87. 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 released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.10. The business earned $5.14 billion during the quarter, compared to analyst estimates of $5.03 billion. Alibaba Group Holding had a return on equity of 13.29% and a net margin of 26.44%. During the same quarter in the prior year, the company posted $0.57 EPS. Analysts forecast that Alibaba Group Holding will post $3.28 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Apriem Advisors raised its position in Alibaba Group Holding by 14.2% in the third quarter. Apriem Advisors now owns 1,003 shares of the company’s stock valued at $106,000 after buying an additional 125 shares in the last quarter. Ayalon Holdings Ltd. raised its position in Alibaba Group Holding by 28.7% in the third quarter. Ayalon Holdings Ltd. now owns 1,120 shares of the company’s stock valued at $118,000 after buying an additional 250 shares in the last quarter. Cornerstone Advisors Inc. raised its position in 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 in the last quarter. Van Hulzen Asset Management LLC bought a new position in Alibaba Group Holding during the third quarter valued at approximately $130,000. Finally, Equitec Proprietary Markets LLC bought a new position in Alibaba Group Holding during the third quarter valued at approximately $148,000. Hedge funds and other institutional investors own 32.40% of the company’s stock.
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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