MKM Partners Increases Alibaba Group Holding Limited (BABA) Price Target to $220.00
Alibaba Group Holding Limited (NYSE:BABA) had its price target lifted by MKM Partners from $177.00 to $220.00 in a report released on Wednesday, Marketbeat.com reports. MKM Partners currently has a buy rating on the specialty retailer’s stock.
A number of other brokerages have also recently issued reports on BABA. Robert W. Baird lifted their price objective on Alibaba Group Holding Limited from $170.00 to $190.00 and gave the company an outperform rating in a report on Friday, August 18th. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and issued a $208.00 price target (up from $200.00) on shares of Alibaba Group Holding Limited in a report on Sunday, August 20th. CIBC lifted their price target on Alibaba Group Holding Limited from $130.00 to $140.00 and gave the company an outperform rating in a report on Tuesday, May 23rd. J P Morgan Chase & Co assumed coverage on Alibaba Group Holding Limited in a report on Tuesday, June 27th. They issued an overweight rating and a $190.00 price target for the company. Finally, Oppenheimer Holdings, Inc. reaffirmed an outperform rating and issued a $140.00 price target (up from $130.00) on shares of Alibaba Group Holding Limited in a report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $168.71.
Alibaba Group Holding Limited (NYSE BABA) opened at 171.74 on Wednesday. The stock has a market capitalization of $436.73 billion, a P/E ratio of 58.22 and a beta of 2.64. Alibaba Group Holding Limited has a 12 month low of $86.01 and a 12 month high of $177.00. The firm’s 50-day moving average is $156.44 and its 200 day moving average is $127.15.
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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.21. The company had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $7.16 billion. Alibaba Group Holding Limited had a return on equity of 16.85% and a net margin of 28.77%. During the same period last year, the business earned $0.74 earnings per share. On average, equities analysts anticipate that Alibaba Group Holding Limited will post $4.97 earnings per share for the current year.
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Alibaba Group Holding Limited announced that its board has approved a stock buyback plan on Thursday, May 18th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
A number of large investors have recently added to or reduced their stakes in BABA. Shine Investment Advisory Services Inc. purchased a new stake in Alibaba Group Holding Limited during the second quarter valued at approximately $102,000. FNY Managed Accounts LLC purchased a new stake in Alibaba Group Holding Limited during the first quarter valued at approximately $107,000. Lee Financial Co boosted its stake 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 valued at $113,000 after buying an additional 250 shares during the last quarter. Winch Advisory Services LLC boosted its stake 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 valued at $114,000 after buying an additional 482 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA purchased a new stake in Alibaba Group Holding Limited during the second quarter valued at approximately $116,000. 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.
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