Alibaba Group (NYSE:BABA) had its price target reduced by JPMorgan Chase & Co. to $190.00 in a report released on Monday, The Fly reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty retailer’s stock.
Several other equities analysts also recently commented on the company. MKM Partners cut their target price on Alibaba Group to $270.00 and set a buy rating for the company in a research report on Wednesday, September 12th. Zacks Investment Research upgraded Alibaba Group from a strong sell rating to a hold rating in a research report on Monday, October 8th. HSBC started coverage on Alibaba Group in a research report on Wednesday, September 12th. They set a buy rating for the company. Deutsche Bank set a $189.00 target price on Alibaba Group and gave the stock a buy rating in a research report on Wednesday, October 10th. Finally, Goldman Sachs Group raised their target price on Alibaba Group from $241.00 to $247.00 and gave the stock a buy rating in a research report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $216.02.
Shares of NYSE:BABA traded up $2.95 during trading on Monday, hitting $147.59. 309,214 shares of the stock were exchanged, compared to its average volume of 27,321,452. Alibaba Group has a 1-year low of $130.06 and a 1-year high of $211.70. The firm has a market capitalization of $378.00 billion, a PE ratio of 36.74, a PEG ratio of 1.15 and a beta of 2.35. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.26.
Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 2nd. The specialty retailer reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.19. Alibaba Group had a return on equity of 13.15% and a net margin of 19.33%. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $12.51 billion. During the same quarter last year, the firm earned $1.29 EPS. Alibaba Group’s revenue for the quarter was up 49.6% compared to the same quarter last year. On average, sell-side analysts predict that Alibaba Group will post 3.72 EPS for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of BABA. InterOcean Capital LLC acquired a new stake in shares of Alibaba Group in the 2nd quarter valued at $371,000. Moneta Group Investment Advisors LLC increased its stake in shares of Alibaba Group by 10,334.1% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 110,601 shares of the specialty retailer’s stock valued at $520,000 after buying an additional 109,541 shares during the period. Palo Capital Inc. acquired a new stake in shares of Alibaba Group in the 3rd quarter valued at $171,000. Bouchey Financial Group Ltd acquired a new stake in shares of Alibaba Group in the 3rd quarter valued at $254,000. Finally, OppenheimerFunds Inc. increased its stake in shares of Alibaba Group by 8.1% in the 2nd quarter. OppenheimerFunds Inc. now owns 15,778,979 shares of the specialty retailer’s stock valued at $2,927,474,000 after buying an additional 1,182,927 shares during the period. Hedge funds and other institutional investors own 38.76% of the company’s stock.
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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