Alibaba Group (NYSE:BABA)‘s stock had its “buy” rating reaffirmed by equities researchers at Nomura in a note issued to investors on Thursday, AnalystRatings.com reports. They currently have a $309.00 price target on the specialty retailer’s stock. Nomura’s price target points to a potential upside of 18.52% from the stock’s current price.
BABA has been the subject of a number of other reports. Mizuho restated a “buy” rating and set a $260.00 target price on shares of Alibaba Group in a report on Tuesday, June 9th. Robert W. Baird restated a “buy” rating and set a $230.00 target price on shares of Alibaba Group in a report on Tuesday, April 14th. Needham & Company LLC began coverage on shares of Alibaba Group in a report on Thursday. They set a “buy” rating and a $275.00 target price for the company. Bank of America reaffirmed a “buy” rating and issued a $241.00 price objective (down previously from $250.00) on shares of Alibaba Group in a research note on Tuesday, May 26th. Finally, Zacks Investment Research downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating and set a $219.00 target price on the stock. in a research note on Thursday, April 16th. Three equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $249.20.
NYSE:BABA traded up $3.03 during trading hours on Thursday, reaching $260.71. 599,949 shares of the company’s stock were exchanged, compared to its average volume of 15,101,637. The company has a market capitalization of $655.64 billion, a P/E ratio of 32.64, a price-to-earnings-growth ratio of 1.90 and a beta of 1.56. Alibaba Group has a 12 month low of $151.85 and a 12 month high of $241.30. The company has a quick ratio of 1.75, a current ratio of 1.91 and a debt-to-equity ratio of 0.14. The business’s 50-day simple moving average is $216.60 and its two-hundred day simple moving average is $209.38.
Alibaba Group (NYSE:BABA) last issued its earnings results on Friday, May 22nd. The specialty retailer reported $9.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $8.61. The firm had revenue of $114.31 billion during the quarter, compared to analysts’ expectations of $108.31 billion. Alibaba Group had a net margin of 29.16% and a return on equity of 14.56%. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period last year, the firm posted $8.57 earnings per share. As a group, sell-side analysts anticipate that Alibaba Group will post 6.94 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in BABA. Norges Bank acquired a new stake in shares of Alibaba Group in the fourth quarter worth about $5,093,652,000. GQG Partners LLC lifted its position in shares of Alibaba Group by 2,641.0% in the fourth quarter. GQG Partners LLC now owns 7,640,310 shares of the specialty retailer’s stock worth $1,620,851,000 after buying an additional 7,361,567 shares during the last quarter. Morgan Stanley lifted its position in shares of Alibaba Group by 31.9% in the first quarter. Morgan Stanley now owns 18,356,646 shares of the specialty retailer’s stock worth $3,569,998,000 after buying an additional 4,443,526 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Alibaba Group by 12.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 26,753,779 shares of the specialty retailer’s stock worth $5,674,477,000 after buying an additional 2,941,744 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Alibaba Group by 6.7% in the first quarter. State Street Corp now owns 37,975,313 shares of the specialty retailer’s stock worth $7,385,439,000 after buying an additional 2,368,050 shares during the last quarter. 47.22% of the stock is owned by institutional investors.
About Alibaba Group
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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