Alibaba Group (NYSE:BABA – Free Report) had its target price hoisted by Citigroup from $133.00 to $138.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the specialty retailer’s stock.
A number of other equities analysts have also recently issued reports on the company. Robert W. Baird increased their target price on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday, November 15th. Barclays cut their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. Bank of America increased their target price on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a research report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $115.13.
Get Our Latest Analysis on Alibaba Group
Alibaba Group Price Performance
Alibaba Group (NYSE:BABA – Get Free Report) last posted its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The firm had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. During the same period in the prior year, the business earned $1.82 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts predict that Alibaba Group will post 8.44 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in BABA. Assenagon Asset Management S.A. boosted its stake in Alibaba Group by 1,392.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after purchasing an additional 5,715,155 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Alibaba Group by 3,180.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock valued at $409,385,000 after acquiring an additional 3,740,150 shares during the last quarter. Hhlr Advisors LTD. boosted its position in shares of Alibaba Group by 64.1% during the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock valued at $936,785,000 after acquiring an additional 3,448,152 shares during the last quarter. FMR LLC boosted its position in shares of Alibaba Group by 454.2% during the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock valued at $383,260,000 after acquiring an additional 2,959,954 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Alibaba Group by 9,205.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock valued at $1,801,240,000 after acquiring an additional 1,679,117 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.
About Alibaba Group
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.
Recommended Stories
- Five stocks we like better than Alibaba Group
- EV Stocks and How to Profit from Them
- Driving Forward: Lucid’s Growing Sales and Gravity SUV’s Impact
- 3 Home Improvement Stocks that Can Upgrade Your Portfolio
- Why Amazon’s Next Earnings Could Trigger a Stock Breakout
- Stock Analyst Ratings and Canadian Analyst Ratings
- With This Kind of Data, The Fed Isn’t Cutting Rates This Year
Receive News & Ratings for Alibaba Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group and related companies with MarketBeat.com's FREE daily email newsletter.