Alibaba Group Holding Limited (BABA) Earns “Buy” Rating from Macquarie
Macquarie reiterated their buy rating on shares of Alibaba Group Holding Limited (NYSE:BABA) in a report issued on Monday. Macquarie currently has a $245.00 price objective on the specialty retailer’s stock. The analysts noted that the move was a valuation call.
A number of other research firms also recently issued reports on BABA. Robert W. Baird increased their price objective on Alibaba Group Holding Limited from $170.00 to $190.00 and gave the stock an outperform rating in a report on Friday, August 18th. Goldman Sachs Group, Inc. (The) reissued a buy rating and issued a $208.00 target price (up from $200.00) on shares of Alibaba Group Holding Limited in a research note on Sunday, August 20th. MKM Partners reissued a buy rating and issued a $220.00 target price on shares of Alibaba Group Holding Limited in a research note on Monday, October 2nd. J P Morgan Chase & Co initiated coverage on Alibaba Group Holding Limited in a research note on Tuesday, June 27th. They issued an overweight rating and a $190.00 target price on the stock. Finally, Vetr raised Alibaba Group Holding Limited from a buy rating to a strong-buy rating and set a $202.18 target price on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have assigned a buy rating and three have issued a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $179.95.
Shares of Alibaba Group Holding Limited (NYSE:BABA) opened at 179.61 on Monday. The firm has a market cap of $456.75 billion, a P/E ratio of 59.61 and a beta of 2.60. Alibaba Group Holding Limited has a 52-week low of $86.01 and a 52-week high of $184.70. The company has a 50-day moving average of $175.72 and a 200 day moving average of $146.22.
Alibaba Group Holding Limited (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.21. The business had revenue of $7.40 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $0.74 earnings per share. On average, equities analysts expect that Alibaba Group Holding Limited will post $4.94 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently bought and sold shares of BABA. BlackRock Inc. boosted its holdings in Alibaba Group Holding Limited by 2,538.7% during the 1st quarter. BlackRock Inc. now owns 56,989,001 shares of the specialty retailer’s stock valued at $6,145,123,000 after acquiring an additional 54,829,289 shares during the period. FMR LLC boosted its holdings in Alibaba Group Holding Limited by 42.5% during the 2nd quarter. FMR LLC now owns 25,278,081 shares of the specialty retailer’s stock valued at $3,561,681,000 after acquiring an additional 7,544,165 shares during the period. Fisher Asset Management LLC boosted its holdings in Alibaba Group Holding Limited by 87.4% during the 2nd quarter. Fisher Asset Management LLC now owns 10,318,873 shares of the specialty retailer’s stock valued at $1,453,929,000 after acquiring an additional 4,813,431 shares during the period. Third Point LLC purchased a new position in Alibaba Group Holding Limited during the 2nd quarter valued at $634,050,000. Finally, Hillhouse Capital Management Ltd. boosted its holdings in Alibaba Group Holding Limited by 38,449.4% during the 2nd quarter. Hillhouse Capital Management Ltd. now owns 3,570,449 shares of the specialty retailer’s stock valued at $503,076,000 after acquiring an additional 3,561,187 shares during the period. Institutional investors own 37.34% of the company’s stock.
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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