Trading Report: Today, Alibaba Group Holding Ltd. (BABA) Cut to Hold at The Zacks Investment Research

Today, Alibaba Group Holding Ltd. (BABA) Cut to Hold at The Zacks Investment Research

Alibaba Group Holding Ltd. (NYSE:BABA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Alibaba Group is a Chinese e-Commerce giant which caters mainly to its native market. Alibaba Group’s fiscal second-quarter results exceeded the Zacks Consensus Estimate. The solid growth in its core e-commerce business as well as growing cloud computing services aided the results. The company’s dominance in the mobile commerce market, its continued efforts to develop new products, international growth opportunities and strong financial position are all positives. However, macro headwinds, continued investments and increasing competition from Tencent Holdings and Baidu remain the overhangs.”

Other analysts have also recently issued reports about the company. RBC Capital Markets reissued an “outperform” rating and issued a $105.00 price target on shares of Alibaba Group Holding in a research report on Thursday, August 11th. Raymond James Financial Inc. raised Alibaba Group Holding from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $95.00 to $124.00 in a research report on Friday, August 12th. Evercore ISI reissued a “buy” rating and issued a $98.00 price target on shares of Alibaba Group Holding in a research report on Tuesday, July 26th. Wedbush boosted their price target on Alibaba Group Holding from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, August 12th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $105.00 price target (up from $95.00) on shares of Alibaba Group Holding in a research report on Saturday, August 13th. Three analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $117.01.

Alibaba Group Holding (NYSE:BABA) traded down 0.02% during mid-day trading on Tuesday, reaching $93.01. The company’s stock had a trading volume of 4,868,511 shares. Alibaba Group Holding has a 12-month low of $59.25 and a 12-month high of $109.87. The firm has a market cap of $230.48 billion, a PE ratio of 48.93 and a beta of 2.93. The company has a 50-day moving average price of $99.27 and a 200-day moving average price of $90.87.

Alibaba Group Holding (NYSE:BABA) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.10. The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Alibaba Group Holding had a return on equity of 13.29% and a net margin of 26.44%. During the same period in the previous year, the firm posted $0.57 EPS. On average, equities research analysts expect that Alibaba Group Holding will post $3.28 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BABA. British Airways Pensions Investment Management Ltd increased its position in Alibaba Group Holding by 62.0% in the second quarter. British Airways Pensions Investment Management Ltd now owns 374,515 shares of the company’s stock valued at $29,903,000 after buying an additional 143,364 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in Alibaba Group Holding by 38.9% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 576,900 shares of the company’s stock valued at $45,881,000 after buying an additional 161,500 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Alibaba Group Holding by 76.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,605,993 shares of the company’s stock valued at $207,255,000 after buying an additional 1,130,509 shares during the period. ClariVest Asset Management LLC increased its position in Alibaba Group Holding by 131.5% in the second quarter. ClariVest Asset Management LLC now owns 158,111 shares of the company’s stock valued at $12,574,000 after buying an additional 89,811 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its position in Alibaba Group Holding by 1.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 767,361 shares of the company’s stock valued at $61,028,000 after buying an additional 8,235 shares during the period. 32.40% of the stock is owned by institutional investors and hedge funds.

About Alibaba Group Holding

Alibaba Group Holding Limited is a holding company. 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 (the PRC or China) and internationally.

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