Vetr downgraded shares of Alibaba Group Holding Ltd. (NYSE:BABA) from a buy rating to a hold rating in a research report sent to investors on Thursday. They currently have $113.29 price target on the stock.
BABA has been the topic of several other research reports. JPMorgan Chase & Co. started coverage on shares of Alibaba Group Holding in a report on Wednesday, August 31st. They issued an overweight rating and a $135.00 target price on the stock. Brean Capital reaffirmed a buy rating on shares of Alibaba Group Holding in a report on Wednesday, August 31st. Bank of America Corp. reaffirmed a buy rating and issued a $117.00 target price (up previously from $110.00) on shares of Alibaba Group Holding in a report on Tuesday, September 20th. Cantor Fitzgerald reaffirmed a buy rating on shares of Alibaba Group Holding in a report on Friday, September 9th. Finally, Goldman Sachs Group Inc. raised their target price on shares of Alibaba Group Holding from $104.00 to $120.00 and gave the company a buy rating in a report on Friday, August 12th. Four analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $107.42.
Shares of Alibaba Group Holding (NYSE:BABA) opened at 108.26 on Thursday. The firm’s 50-day moving average is $99.11 and its 200 day moving average is $84.13. The stock has a market cap of $267.73 billion, a P/E ratio of 38.35 and a beta of 2.97. Alibaba Group Holding has a 52-week low of $58.20 and a 52-week high of $109.76.
Alibaba Group Holding (NYSE:BABA) last issued its earnings results on Thursday, August 11th. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.11. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Alibaba Group Holding had a net margin of 42.95% and a return on equity of 12.31%. During the same quarter last year, the company earned $0.59 earnings per share. Analysts forecast that Alibaba Group Holding will post $3.29 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Cornerstone Advisors Inc. boosted 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 during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted 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 during the last quarter. Pinnacle Financial Partners Inc. purchased a new stake in shares of Alibaba Group Holding during the second quarter worth about $201,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Alibaba Group Holding during the second quarter worth about $207,000. Finally, United Asset Strategies Inc. purchased a new stake in shares of Alibaba Group Holding during the second quarter worth about $210,000. Institutional investors own 29.06% of the company’s stock.
Alibaba Group Holding Company Profile
Alibaba Group Holding Limited is a holding company. The Company is principally engaged in online and mobile commerce through products, services and technology. The Company provides retail and wholesale marketplaces available through both personal computer and mobile interfaces in the PRC and internationally.
To view Vetr’s full report, visit Vetr’s official website.
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