Alibaba Group Holding Ltd (BABA) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS
Alibaba Group Holding Ltd (NYSE:BABA) released its quarterly earnings results on Thursday. The specialty retailer reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.26 billion. Alibaba Group Holding had a return on equity of 14.88% and a net margin of 26.56%. During the same quarter in the prior year, the business posted $0.47 EPS.
Shares of Alibaba Group Holding (NYSE:BABA) opened at 121.27 on Friday. The firm has a 50-day moving average of $114.39 and a 200 day moving average of $102.00. Alibaba Group Holding has a 12-month low of $73.30 and a 12-month high of $124.34. The stock has a market capitalization of $301.36 billion, a price-to-earnings ratio of 55.83 and a beta of 2.73.
Several research analysts recently commented on the company. Needham & Company LLC lifted their price target on Alibaba Group Holding from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday. MKM Partners restated a “buy” rating and set a $130.00 target price on shares of Alibaba Group Holding in a research report on Tuesday, April 18th. Vetr lowered Alibaba Group Holding from a “strong-buy” rating to a “buy” rating and set a $131.78 target price for the company. in a research report on Tuesday, May 2nd. Standpoint Research lowered Alibaba Group Holding from a “buy” rating to a “reduce” rating in a research report on Thursday, April 20th. They noted that the move was a valuation call. Finally, Goldman Sachs Group Inc boosted their target price on Alibaba Group Holding from $128.00 to $135.00 and gave the company a “conviction-buy” rating in a research report on Friday, February 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-nine have given a buy rating and two 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 $126.00.
A hedge fund recently raised its stake in Alibaba Group Holding stock. Schwab Charles Investment Management Inc. raised its stake in Alibaba Group Holding Ltd (NYSE:BABA) by 20.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,898 shares of the specialty retailer’s stock after buying an additional 3,027 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Alibaba Group Holding were worth $1,930,000 as of its most recent filing with the SEC. 35.17% of the stock is currently owned by institutional investors and hedge funds.
About Alibaba Group Holding
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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