Argus initiated coverage on shares of Alibaba Group (NYSE:BABA) in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $275.00 price objective on the specialty retailer’s stock.
Other equities research analysts have also recently issued reports about the stock. KeyCorp reduced their price target on shares of Alibaba Group from $228.00 to $219.00 and set an overweight rating for the company in a report on Tuesday, April 10th. Zacks Investment Research upgraded shares of Alibaba Group from a hold rating to a buy rating and set a $199.00 price target for the company in a report on Wednesday, April 4th. MKM Partners raised their price target on shares of Alibaba Group from $260.00 to $280.00 and gave the stock a buy rating in a report on Friday, May 18th. Raymond James restated a strong-buy rating and issued a $300.00 price target (up from $250.00) on shares of Alibaba Group in a report on Thursday, May 24th. Finally, BNP Paribas began coverage on shares of Alibaba Group in a report on Thursday, June 14th. They issued a buy rating for the company. One research analyst has rated the stock with a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. Alibaba Group presently has a consensus rating of Buy and a consensus target price of $231.18.
Shares of NYSE BABA opened at $191.25 on Monday. Alibaba Group has a twelve month low of $137.52 and a twelve month high of $211.70. The firm has a market cap of $517.38 billion, a P/E ratio of 47.46, a PEG ratio of 1.22 and a beta of 2.54. The company has a quick ratio of 1.97, a current ratio of 1.89 and a debt-to-equity ratio of 0.27.
Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, May 4th. The specialty retailer reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.11). The firm had revenue of $9.87 billion for the quarter, compared to the consensus estimate of $9.36 billion. Alibaba Group had a return on equity of 16.61% and a net margin of 25.39%. During the same period in the prior year, the business earned $0.63 EPS. research analysts predict that Alibaba Group will post 5.36 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Grandeur Peak Global Advisors LLC bought a new stake in Alibaba Group in the fourth quarter worth about $4,681,000. Wagner Wealth Management LLC bought a new stake in Alibaba Group in the fourth quarter worth about $123,000. Mackenzie Financial Corp raised its position in Alibaba Group by 239.3% in the fourth quarter. Mackenzie Financial Corp now owns 165,097 shares of the specialty retailer’s stock worth $28,468,000 after acquiring an additional 116,440 shares during the period. Bray Capital Advisors bought a new stake in Alibaba Group in the first quarter worth about $202,000. Finally, Avestar Capital LLC bought a new stake in Alibaba Group in the fourth quarter worth about $102,000. 37.88% of the stock is currently 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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