Alibaba Group Holding Limited (NYSE:BABA) Stock Rating Reaffirmed by Royal Bank Of Canada

Alibaba Group Holding Limited (NYSE:BABA)‘s stock had its “buy” rating reiterated by equities research analysts at Royal Bank Of Canada in a research report issued on Monday, October 16th. They currently have a $185.00 price objective on the specialty retailer’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 8.62% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Vetr upgraded shares of Alibaba Group Holding Limited from a “buy” rating to a “strong-buy” rating and set a $202.18 price target on the stock in a research note on Monday, October 16th. BidaskClub upgraded shares of Alibaba Group Holding Limited from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 12th. HSBC Holdings plc restated a “buy” rating and issued a $204.00 price target (up previously from $184.00) on shares of Alibaba Group Holding Limited in a research note on Tuesday, October 10th. Zacks Investment Research upgraded shares of Alibaba Group Holding Limited from a “hold” rating to a “buy” rating and set a $200.00 price target on the stock in a research note on Monday, October 9th. Finally, Raymond James Financial, Inc. restated a “strong-buy” rating on shares of Alibaba Group Holding Limited in a research note on Thursday, October 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $180.09.

Alibaba Group Holding Limited (BABA) opened at 170.32 on Monday. The firm has a market cap of $433.12 billion, a PE ratio of 56.53 and a beta of 2.60. The firm’s 50-day moving average price is $176.07 and its 200 day moving average price is $148.61. Alibaba Group Holding Limited has a 52-week low of $86.01 and a 52-week high of $184.70.

Alibaba Group Holding Limited (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 17th. The specialty retailer reported $0.94 EPS for the quarter, beating the consensus estimate of $0.73 by $0.21. Alibaba Group Holding Limited had a net margin of 28.77% and a return on equity of 16.85%. The company had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.16 billion. During the same quarter last year, the business earned $0.74 earnings per share. On average, equities analysts anticipate that Alibaba Group Holding Limited will post $4.91 earnings per share for the current year.

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Several hedge funds have recently added to or reduced their stakes in BABA. Van ECK Associates Corp lifted its stake in shares of Alibaba Group Holding Limited by 10.0% in the 1st quarter. Van ECK Associates Corp now owns 747,800 shares of the specialty retailer’s stock valued at $80,635,000 after purchasing an additional 68,170 shares during the last quarter. United Services Automobile Association lifted its stake in shares of Alibaba Group Holding Limited by 1.7% in the 1st quarter. United Services Automobile Association now owns 1,350,138 shares of the specialty retailer’s stock valued at $145,585,000 after purchasing an additional 22,742 shares during the last quarter. CFO4Life Group LLC acquired a new stake in shares of Alibaba Group Holding Limited in the 1st quarter valued at $229,000. OppenheimerFunds Inc. raised its holdings in Alibaba Group Holding Limited by 10.4% in the 1st quarter. OppenheimerFunds Inc. now owns 21,635,868 shares of the specialty retailer’s stock worth $2,332,996,000 after acquiring an additional 2,030,747 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Alibaba Group Holding Limited by 1.7% in the 1st quarter. Principal Financial Group Inc. now owns 2,173,601 shares of the specialty retailer’s stock worth $234,379,000 after acquiring an additional 37,196 shares during the period. 37.34% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Alibaba Group Holding Limited (NYSE:BABA)

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