Trading Report: Today, Alibaba Group Holding’s (BABA) “Buy” Rating Reiterate at Needham & Company LLC

Today, Alibaba Group Holding’s (BABA) “Buy” Rating Reiterate at Needham & Company LLC

Alibaba Group Holding Ltd. (NYSE:BABA)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report issued on Saturday. They presently have a $125.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 34.39% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. Citigroup Inc. reiterated a “buy” rating and issued a $138.00 price objective on shares of Alibaba Group Holding in a research report on Thursday, September 29th. Zacks Investment Research upgraded shares of Alibaba Group Holding from a “hold” rating to a “strong-buy” rating and set a $117.00 price objective for the company in a research report on Friday, October 14th. Cantor Fitzgerald reiterated a “buy” rating on shares of Alibaba Group Holding in a research report on Monday, November 14th. Nomura reiterated a “buy” rating and issued a $129.00 price objective (up previously from $95.00) on shares of Alibaba Group Holding in a research report on Monday, October 17th. Finally, Vetr upgraded shares of Alibaba Group Holding from a “buy” rating to a “strong-buy” rating and set a $120.23 price objective for the company in a research report on Tuesday, October 11th. Three research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Alibaba Group Holding has an average rating of “Buy” and a consensus price target of $117.01.

Alibaba Group Holding (NYSE:BABA) traded down 0.02% on Friday, reaching $93.01. The company had a trading volume of 4,868,511 shares. The company’s 50-day moving average price is $99.27 and its 200 day moving average price is $90.87. The firm has a market capitalization of $230.48 billion, a P/E ratio of 48.93 and a beta of 2.93. Alibaba Group Holding has a 1-year low of $59.25 and a 1-year high of $109.87.

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

A number of large investors have recently made changes to their positions in the company. Newport Asia LLC increased its position in shares of Alibaba Group Holding by 81.1% in the second quarter. Newport Asia LLC now owns 689,700 shares of the company’s stock valued at $54,851,000 after buying an additional 308,800 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Alibaba Group Holding by 99.6% in the second quarter. Gulf International Bank UK Ltd now owns 228,500 shares of the company’s stock valued at $18,172,000 after buying an additional 114,000 shares during the last quarter. TT International increased its position in shares of Alibaba Group Holding by 65.1% in the second quarter. TT International now owns 620,678 shares of the company’s stock valued at $49,362,000 after buying an additional 244,824 shares during the last quarter. Daiwa SB Investments Ltd. increased its position in shares of Alibaba Group Holding by 29.3% in the second quarter. Daiwa SB Investments Ltd. now owns 76,750 shares of the company’s stock valued at $5,990,000 after buying an additional 17,400 shares during the last quarter. Finally, British Columbia Investment Management Corp increased its position in shares of Alibaba Group Holding by 95.9% in the second quarter. British Columbia Investment Management Corp now owns 224,900 shares of the company’s stock valued at $17,886,000 after buying an additional 110,100 shares during the last quarter. Hedge funds and other institutional investors own 32.40% of the company’s stock.

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