Alibaba Group Holding Limited (NYSE:BABA) Earns Buy Rating from Instinet
BABA has been the topic of a number of other reports. Sanford C. Bernstein reissued an outperform rating and set a $130.00 target price (up from $117.00) on shares of Alibaba Group Holding Limited in a research report on Sunday, April 2nd. Goldman Sachs Group, Inc. (The) set a $179.00 target price on Alibaba Group Holding Limited and gave the stock a buy rating in a research report on Friday, June 9th. Benchmark Co. started coverage on Alibaba Group Holding Limited in a research report on Tuesday, April 18th. They set a buy rating and a $140.00 target price on the stock. Royal Bank Of Canada reissued an outperform rating and set a $120.00 target price on shares of Alibaba Group Holding Limited in a research report on Tuesday, May 23rd. Finally, CIBC lifted their target price on Alibaba Group Holding Limited from $130.00 to $140.00 and gave the stock an outperform rating in a research report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $142.21.
Alibaba Group Holding Limited (NYSE:BABA) opened at 157.49 on Friday. The stock has a market cap of $398.45 billion, a P/E ratio of 62.32 and a beta of 2.64. Alibaba Group Holding Limited has a one year low of $86.01 and a one year high of $160.39. The company has a 50-day moving average price of $149.30 and a 200-day moving average price of $121.89.
Alibaba Group Holding Limited (NYSE:BABA) last released its earnings results on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by $0.01. Alibaba Group Holding Limited had a return on equity of 15.40% and a net margin of 27.51%. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period last year, the business earned $0.47 earnings per share. On average, analysts anticipate that Alibaba Group Holding Limited will post $4.60 earnings per share for the current year.
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Alibaba Group Holding Limited declared that its Board of Directors has authorized a share buyback program on Thursday, May 18th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
Institutional investors have recently made changes to their positions in the company. Shine Investment Advisory Services Inc. acquired a new position in Alibaba Group Holding Limited during the second quarter worth approximately $102,000. FNY Managed Accounts LLC acquired a new position in Alibaba Group Holding Limited during the first quarter worth approximately $107,000. Lee Financial Co increased its position in Alibaba Group Holding Limited by 45.5% in the second quarter. Lee Financial Co now owns 800 shares of the specialty retailer’s stock worth $113,000 after buying an additional 250 shares in the last quarter. Winch Advisory Services LLC increased its position in Alibaba Group Holding Limited by 147.4% in the second quarter. Winch Advisory Services LLC now owns 809 shares of the specialty retailer’s stock worth $114,000 after buying an additional 482 shares in the last quarter. Finally, Webster Bank N. A. increased its position in Alibaba Group Holding Limited by 25.0% in the first quarter. Webster Bank N. A. now owns 1,175 shares of the specialty retailer’s stock worth $127,000 after buying an additional 235 shares in the last quarter. 36.75% of the stock is owned by hedge funds and other institutional investors.
About Alibaba Group Holding Limited
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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