Raymond James Financial, Inc. upgraded shares of Alibaba Group Holding Limited (NYSE:BABA) to a top pick rating in a report published on Friday. The firm currently has $220.00 price target on the specialty retailer’s stock, up from their previous price target of $190.00.

A number of other research analysts have also issued reports on the company. Needham & Company LLC boosted their target price on Alibaba Group Holding Limited from $125.00 to $135.00 and gave the company a buy rating in a report on Tuesday, May 9th. Vetr lowered Alibaba Group Holding Limited from a strong-buy rating to a buy rating and set a $129.84 target price on the stock. in a report on Monday, May 8th. MKM Partners reissued a buy rating and issued a $155.00 target price (up previously from $130.00) on shares of Alibaba Group Holding Limited in a report on Wednesday, May 17th. Royal Bank Of Canada reissued a buy rating and issued a $120.00 target price on shares of Alibaba Group Holding Limited in a report on Tuesday, May 16th. Finally, Stifel Nicolaus reissued a buy rating and issued a $139.00 target price (up previously from $120.00) on shares of Alibaba Group Holding Limited in a report on Friday, May 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $162.72.

Alibaba Group Holding Limited (NYSE BABA) opened at 167.50 on Friday. The firm has a market cap of $425.95 billion, a P/E ratio of 56.78 and a beta of 2.64. Alibaba Group Holding Limited has a one year low of $86.01 and a one year high of $169.50. The company has a 50-day moving average of $152.41 and a 200 day moving average of $124.57.

Alibaba Group Holding Limited (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.21. Alibaba Group Holding Limited had a return on equity of 17.42% and a net margin of 28.77%. The company had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $7.16 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. Equities research analysts expect that Alibaba Group Holding Limited will post $4.74 earnings per share for the current fiscal year.

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Alibaba Group Holding Limited declared that its board has authorized a stock buyback program on Thursday, May 18th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

A number of institutional investors have recently added to or reduced their stakes in BABA. WFG Advisors LP increased its position in Alibaba Group Holding Limited by 74.2% in the second quarter. WFG Advisors LP now owns 2,056 shares of the specialty retailer’s stock valued at $290,000 after buying an additional 876 shares during the period. Cookson Peirce & Co. Inc. acquired a new position in Alibaba Group Holding Limited during the second quarter valued at $479,000. Beaton Management Co. Inc. acquired a new position in Alibaba Group Holding Limited during the second quarter valued at $592,000. Wasatch Advisors Inc. increased its position in Alibaba Group Holding Limited by 1,071.7% in the second quarter. Wasatch Advisors Inc. now owns 233,097 shares of the specialty retailer’s stock valued at $32,843,000 after buying an additional 213,203 shares during the period. Finally, Gofen & Glossberg LLC IL acquired a new position in Alibaba Group Holding Limited during the second quarter valued at $236,000. Hedge funds and other institutional investors own 36.81% of the company’s stock.

Alibaba Group Holding Limited Company Profile

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.

Analyst Recommendations for Alibaba Group Holding Limited (NYSE:BABA)

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