Alibaba Group Holding Limited (NYSE:BABA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Alibaba Group Holding Limited (NYSE:BABA) has been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $110.75.

A number of research firms have issued reports on BABA. Robert W. Baird increased their target price on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their target price on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research note on Friday, August 23rd. Truist Financial reduced their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, Bank of America lifted their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday.

Alibaba Group Trading Up 0.7 %

NYSE BABA opened at $110.09 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The stock’s 50-day moving average is $89.88 and its 200-day moving average is $81.11. Alibaba Group has a one year low of $66.63 and a one year high of $117.82. The firm has a market cap of $264.20 billion, a P/E ratio of 28.82, a P/E/G ratio of 0.55 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. During the same quarter in the previous year, the firm posted $2.47 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. Sell-side analysts anticipate that Alibaba Group will post 7.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BABA. H&H International Investment LLC boosted its holdings in shares of Alibaba Group by 63.1% during the 4th quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock worth $384,390,000 after buying an additional 1,918,730 shares during the period. AMF Tjanstepension AB boosted its holdings in shares of Alibaba Group by 79.5% during the second quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock worth $188,197,000 after acquiring an additional 1,156,479 shares during the period. Marshall Wace LLP grew its position in shares of Alibaba Group by 384.2% in the second quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock valued at $102,596,000 after purchasing an additional 1,130,643 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Alibaba Group by 523.8% during the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock worth $96,163,000 after purchasing an additional 1,121,500 shares during the period. Finally, Primecap Management Co. CA grew its holdings in Alibaba Group by 5.2% in the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after buying an additional 1,074,175 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

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.