Alibaba Group (NYSE:BABA) PT Raised to $88.00

Alibaba Group (NYSE:BABA) had its target price hoisted by Robert W. Baird from $85.00 to $88.00 in a report released on Friday morning, Benzinga reports. They currently have an outperform rating on the specialty retailer’s stock.

Several other brokerages also recently commented on BABA. Benchmark reissued a buy rating and set a $118.00 target price on shares of Alibaba Group in a research note on Wednesday, May 15th. Loop Capital boosted their target price on Alibaba Group from $111.00 to $115.00 and gave the stock a buy rating in a research note on Thursday, June 6th. Citigroup lowered their target price on Alibaba Group from $124.00 to $122.00 and set a buy rating for the company in a research note on Wednesday, May 15th. JPMorgan Chase & Co. boosted their target price on Alibaba Group from $100.00 to $108.00 and gave the stock an overweight rating in a research note on Friday. Finally, Truist Financial lowered their target price on Alibaba Group from $113.00 to $110.00 and set a buy rating for the company in a research note on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $107.32.

Alibaba Group Trading Up 0.9 %

Shares of Alibaba Group stock opened at $83.91 on Friday. The firm has a 50-day moving average of $76.73 and a 200-day moving average of $76.07. The stock has a market cap of $212.92 billion, a PE ratio of 19.56, a PEG ratio of 0.48 and a beta of 0.32. Alibaba Group has a 52-week low of $66.63 and a 52-week high of $96.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.79 and a current ratio of 1.79.

Alibaba Group (NYSE:BABA) last announced its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. The company had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter in the previous year, the business posted $2.47 earnings per share. Alibaba Group’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts forecast that Alibaba Group will post 6.96 EPS for the current year.

Institutional Investors Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC increased its position in shares of Alibaba Group by 14.6% during the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after buying an additional 128 shares during the period. Bogart Wealth LLC increased its position in shares of Alibaba Group by 16.7% during the first quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer’s stock valued at $72,000 after buying an additional 142 shares during the period. Legacy Advisors LLC increased its position in shares of Alibaba Group by 1.4% during the fourth quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer’s stock valued at $826,000 after buying an additional 145 shares during the period. North Star Investment Management Corp. increased its position in shares of Alibaba Group by 11.2% during the first quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock valued at $111,000 after buying an additional 154 shares during the period. Finally, EPIQ Capital Group LLC increased its position in shares of Alibaba Group by 0.3% during the second quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock valued at $3,396,000 after buying an additional 157 shares during the period. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Company Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.