The Vetr Inc. Upgrades Alibaba Group Holding Ltd. (BABA) to “Strong-Buy”

The Vetr Inc. Upgrades Alibaba Group Holding Ltd. (BABA) to “Strong-Buy”

Alibaba Group Holding Ltd. (NYSE:BABA) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday. The firm presently has a $120.23 price objective on the stock. Vetr‘s price objective indicates a potential upside of 16.03% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Credit Suisse Group AG reissued an “outperform” rating and set a $114.00 price objective (up previously from $110.00) on shares of Alibaba Group Holding in a research report on Wednesday, July 20th. Citigroup Inc. reissued a “buy” rating and set a $138.00 price objective on shares of Alibaba Group Holding in a research report on Thursday, September 29th. Needham & Company LLC reissued a “buy” rating and set a $105.00 price objective (up previously from $95.00) on shares of Alibaba Group Holding in a research report on Saturday, August 13th. Cantor Fitzgerald reissued a “buy” rating on shares of Alibaba Group Holding in a research report on Sunday, August 28th. Finally, Robert W. Baird restated an “outperform” rating and issued a $94.00 target price on shares of Alibaba Group Holding in a report on Tuesday, June 21st. Three analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. Alibaba Group Holding currently has an average rating of “Buy” and a consensus target price of $110.89.

Alibaba Group Holding (NYSE:BABA) opened at 103.62 on Tuesday. The company has a market cap of $256.25 billion, a PE ratio of 36.73 and a beta of 2.95. Alibaba Group Holding has a 12-month low of $59.25 and a 12-month high of $109.87. The company’s 50-day moving average price is $102.81 and its 200-day moving average price is $86.43.

Alibaba Group Holding (NYSE:BABA) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.11. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Alibaba Group Holding had a net margin of 42.95% and a return on equity of 12.31%. During the same quarter in the prior year, the firm earned $0.59 EPS. Equities analysts anticipate that Alibaba Group Holding will post $3.29 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. ING Groep NV boosted its position in Alibaba Group Holding by 72.0% in the first quarter. ING Groep NV now owns 33,494 shares of the company’s stock worth $2,647,000 after buying an additional 14,023 shares during the last quarter. Aviva PLC boosted its position in Alibaba Group Holding by 5.3% in the first quarter. Aviva PLC now owns 73,700 shares of the company’s stock worth $5,825,000 after buying an additional 3,700 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in Alibaba Group Holding by 31.8% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 27,770 shares of the company’s stock worth $2,195,000 after buying an additional 6,700 shares during the last quarter. Alpine Partners VI LLC boosted its position in Alibaba Group Holding by 273.7% in the first quarter. Alpine Partners VI LLC now owns 27,662 shares of the company’s stock worth $2,186,000 after buying an additional 20,260 shares during the last quarter. Finally, BB&T Securities LLC boosted its position in Alibaba Group Holding by 5.1% in the first quarter. BB&T Securities LLC now owns 4,161 shares of the company’s stock worth $328,000 after buying an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

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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