Alibaba Group Holding Limited (NYSE:BABA) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.
Several other research firms have also recently weighed in on BABA. Barclays PLC boosted their price objective on Alibaba Group Holding Limited to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. HSBC Holdings plc reissued a “buy” rating and issued a $168.00 price objective (up previously from $162.00) on shares of Alibaba Group Holding Limited in a research report on Saturday, July 22nd. Instinet reissued a “buy” rating on shares of Alibaba Group Holding Limited in a research report on Saturday, July 22nd. Atlantic Securities reissued a “hold” rating on shares of Alibaba Group Holding Limited in a research report on Friday, July 14th. Finally, Vetr cut Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $160.50 price objective on the stock. in a research report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-one have given a buy rating and three have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $142.21.
Alibaba Group Holding Limited (BABA) traded down 1.584% during midday trading on Thursday, hitting $154.995. The stock had a trading volume of 2,464,735 shares. The stock’s 50-day moving average is $149.30 and its 200-day moving average is $121.89. Alibaba Group Holding Limited has a 1-year low of $86.01 and a 1-year high of $160.39. The stock has a market capitalization of $392.14 billion, a PE ratio of 61.336 and a beta of 2.64.
Alibaba Group Holding Limited (NYSE:BABA) last posted its quarterly earnings data on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same period in the prior year, the firm posted $0.47 EPS. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post $4.60 EPS for the current fiscal year.
Alibaba Group Holding Limited declared that its board has initiated a share repurchase program on Thursday, May 18th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
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Several institutional investors have recently bought and sold shares of the company. Shine Investment Advisory Services Inc. purchased a new position in Alibaba Group Holding Limited during the second quarter worth about $102,000. FNY Managed Accounts LLC bought a new stake in shares of Alibaba Group Holding Limited during the first quarter valued at $107,000. Lee Financial Co boosted its stake in shares of 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 in the last quarter. Winch Advisory Services LLC boosted its stake in shares of 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 in the last quarter. Finally, Webster Bank N. A. boosted its stake in shares of 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 valued at $127,000 after buying an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 36.75% 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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