Todays Report: Today, Needham & Company LLC Reaffirmed “Buy” Rating for Alibaba Group Holding Ltd. (BABA)

Today, Needham & Company LLC Reaffirmed “Buy” Rating for Alibaba Group Holding Ltd. (BABA)

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

Other analysts also recently issued reports about the stock. RBC Capital Markets reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Alibaba Group Holding in a report on Thursday, August 11th. Raymond James Financial Inc. upgraded shares of Alibaba Group Holding from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $95.00 to $124.00 in a research note on Friday, August 12th. Wedbush boosted their target price on shares of Alibaba Group Holding from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, August 12th. Brean Capital reiterated a “buy” rating on shares of Alibaba Group Holding in a research note on Tuesday, August 2nd. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $115.00 target price (up from $110.00) on shares of Alibaba Group Holding in a research note on Monday, August 15th. Three analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $117.01.

Shares of Alibaba Group Holding (NYSE:BABA) traded down 0.02% during trading on Friday, hitting $93.01. 4,868,511 shares of the company’s stock were exchanged. Alibaba Group Holding has a 12-month low of $59.25 and a 12-month high of $109.87. The company has a market cap of $230.48 billion, a P/E ratio of 48.93 and a beta of 2.93. The company has a 50-day moving average of $99.27 and a 200-day moving average of $90.87.

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

Hedge funds have recently added to or reduced their stakes in the company. Temasek Holdings Private Ltd boosted its stake in Alibaba Group Holding by 13.7% in the second quarter. Temasek Holdings Private Ltd now owns 54,076,397 shares of the company’s stock worth $4,300,696,000 after buying an additional 6,526,596 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Alibaba Group Holding by 7.5% in the second quarter. Baillie Gifford & Co. now owns 45,856,303 shares of the company’s stock worth $3,646,951,000 after buying an additional 3,192,797 shares during the last quarter. Capital Research Global Investors boosted its stake in Alibaba Group Holding by 7.3% in the third quarter. Capital Research Global Investors now owns 38,759,360 shares of the company’s stock worth $4,100,353,000 after buying an additional 2,637,869 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Alibaba Group Holding by 102.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 31,179,716 shares of the company’s stock worth $3,298,502,000 after buying an additional 15,751,926 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Alibaba Group Holding by 32.3% in the third quarter. Jennison Associates LLC now owns 22,516,980 shares of the company’s stock worth $2,382,071,000 after buying an additional 5,496,854 shares during the last quarter. 32.40% of the stock is currently owned by institutional investors.

About Alibaba Group Holding

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