Alibaba Group Holding Limited (BABA) Earns Buy Rating from Analysts at SunTrust Banks, Inc.

SunTrust Banks, Inc. initiated coverage on shares of Alibaba Group Holding Limited (NYSE:BABA) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $175.00 price objective on the specialty retailer’s stock.

Several other research analysts have also recently weighed in on the company. Barclays PLC increased their price objective on Alibaba Group Holding Limited to $180.00 and gave the stock an overweight rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada reissued a buy rating and set a $120.00 target price on shares of Alibaba Group Holding Limited in a report on Tuesday, May 16th. Zacks Investment Research raised Alibaba Group Holding Limited from a hold rating to a strong-buy rating and set a $157.00 target price on the stock in a report on Thursday, June 15th. BidaskClub lowered Alibaba Group Holding Limited from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Finally, CIBC increased their target price on Alibaba Group Holding Limited from $130.00 to $140.00 and gave the stock an outperform rating in a report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company’s stock. Alibaba Group Holding Limited currently has an average rating of Buy and a consensus target price of $157.29.

Alibaba Group Holding Limited (NYSE BABA) opened at 167.50 on Tuesday. Alibaba Group Holding Limited has a 12 month low of $86.01 and a 12 month high of $169.50. The company’s 50-day moving average is $152.41 and its 200-day moving average is $124.57. The company has a market cap of $423.78 billion, a price-to-earnings ratio of 66.28 and a beta of 2.64. Alibaba Group Holding Limited also was the recipient of unusually large options trading on Wednesday. Traders acquired 85,508 put options on the stock. This represents an increase of approximately 228% compared to the average volume of 26,062 put options.

Alibaba Group Holding Limited (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.21. The firm had revenue of $7.40 billion for the quarter, compared to analysts’ expectations of $7.16 billion. Alibaba Group Holding Limited had a return on equity of 17.42% and a net margin of 28.77%. During the same quarter last year, the business earned $0.74 EPS. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post $4.74 earnings per share for the current year.

WARNING: This piece of content was reported by BNB Daily and is owned by of BNB Daily. If you are reading this piece of content on another website, it was stolen and reposted in violation of United States and international copyright & trademark laws. The correct version of this piece of content can be read at https://www.baseball-news-blog.com/2017/08/19/alibaba-group-holding-limited-baba-earns-buy-rating-from-analysts-at-suntrust-banks-inc.html.

Alibaba Group Holding Limited announced that its Board of Directors has authorized a share buyback program on Thursday, May 18th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Alibaba Group Holding Limited by 2,538.7% in the first quarter. BlackRock Inc. now owns 56,989,001 shares of the specialty retailer’s stock worth $6,145,123,000 after buying an additional 54,829,289 shares during the last quarter. FMR LLC increased its stake in shares of Alibaba Group Holding Limited by 42.5% in the second quarter. FMR LLC now owns 25,278,081 shares of the specialty retailer’s stock worth $3,561,681,000 after buying an additional 7,544,165 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Alibaba Group Holding Limited by 87.4% in the second quarter. Fisher Asset Management LLC now owns 10,318,873 shares of the specialty retailer’s stock worth $1,453,929,000 after buying an additional 4,813,431 shares during the last quarter. Third Point LLC acquired a new stake in shares of Alibaba Group Holding Limited during the second quarter worth $634,050,000. Finally, Hillhouse Capital Management Ltd. increased its stake in shares of Alibaba Group Holding Limited by 38,449.4% in the second quarter. Hillhouse Capital Management Ltd. now owns 3,570,449 shares of the specialty retailer’s stock worth $503,076,000 after buying an additional 3,561,187 shares during the last quarter. Institutional investors and hedge funds own 36.81% of the company’s stock.

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)

Receive News & Ratings for Alibaba Group Holding Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group Holding Limited and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply