Alibaba Group Holding Ltd. (NYSE:BABA) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday. The firm presently has a $120.23 price objective on the stock. Vetr‘s target price would suggest a potential upside of 14.25% from the company’s previous close.
Other research analysts have also issued research reports about the company. RBC Capital Markets reiterated an “outperform” rating and set a $105.00 price target on shares of Alibaba Group Holding in a research report on Thursday, August 11th. Needham & Company LLC restated a “buy” rating on shares of Alibaba Group Holding in a report on Monday, June 27th. Raymond James Financial Inc. upgraded Alibaba Group Holding from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $95.00 to $124.00 in a report on Friday, August 12th. Robert W. Baird restated a “buy” rating and issued a $94.00 price objective on shares of Alibaba Group Holding in a report on Monday, June 13th. Finally, Evercore ISI restated a “buy” rating and issued a $98.00 price objective on shares of Alibaba Group Holding in a report on Tuesday, July 26th. Three investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $109.83.
Shares of Alibaba Group Holding (NYSE:BABA) traded down 2.93% during mid-day trading on Tuesday, reaching $105.23. The company’s stock had a trading volume of 14,916,564 shares. Alibaba Group Holding has a 52-week low of $59.25 and a 52-week high of $109.87. The company has a market capitalization of $260.23 billion, a PE ratio of 37.30 and a beta of 2.94. The firm’s 50 day moving average is $102.58 and its 200-day moving average is $86.31.
Alibaba Group Holding (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.11. Alibaba Group Holding had a return on equity of 12.31% and a net margin of 42.95%. The company earned $4.84 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. Analysts forecast that Alibaba Group Holding will post $3.29 EPS for the current year.
Several hedge funds have recently made changes to their positions in the company. Cornerstone Advisors Inc. increased its stake in shares of Alibaba Group Holding by 2.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,594 shares of the company’s stock worth $127,000 after buying an additional 39 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Alibaba Group Holding by 1.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,407 shares of the company’s stock worth $191,000 after buying an additional 31 shares in the last quarter. Pinnacle Financial Partners Inc. purchased a new stake in shares of Alibaba Group Holding during the second quarter worth approximately $201,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Alibaba Group Holding during the second quarter worth approximately $207,000. Finally, United Asset Strategies Inc. purchased a new stake in shares of Alibaba Group Holding during the second quarter worth approximately $210,000. Institutional investors own 29.07% of the company’s stock.
Alibaba Group Holding Company Profile
Alibaba Group Holding Limited is a holding company. 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 (the PRC or China) and internationally.
To view Vetr’s full report, visit Vetr’s official website.
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