Alibaba Group Holding Limited (NYSE:BABA) Given Average Rating of “Moderate Buy” by Brokerages

Alibaba Group Holding Limited (NYSE:BABA) has received an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $112.49.

Several equities analysts have recently weighed in on the stock. Robert W. Baird reduced their target price on shares of Alibaba Group from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. Benchmark reissued a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a report on Wednesday, April 10th. Citigroup cut their price target on Alibaba Group from $126.00 to $124.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Barclays dropped their price objective on Alibaba Group from $138.00 to $109.00 and set an “overweight” rating on the stock in a report on Friday, January 12th. Finally, Truist Financial decreased their price target on Alibaba Group from $114.00 to $113.00 and set a “buy” rating on the stock in a research report on Tuesday.

Hedge Funds Weigh In On Alibaba Group

Several institutional investors have recently modified their holdings of BABA. Bank of New York Mellon Corp increased its holdings in shares of Alibaba Group by 3.0% in the third quarter. Bank of New York Mellon Corp now owns 564,181 shares of the specialty retailer’s stock worth $48,937,000 after buying an additional 16,625 shares during the period. Brown Advisory Inc. boosted its stake in shares of Alibaba Group by 29.9% during the third quarter. Brown Advisory Inc. now owns 23,308 shares of the specialty retailer’s stock valued at $2,022,000 after purchasing an additional 5,361 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Alibaba Group by 28.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 533,998 shares of the specialty retailer’s stock worth $46,311,000 after purchasing an additional 116,898 shares during the last quarter. Advisor Partners II LLC increased its stake in shares of Alibaba Group by 12.6% in the third quarter. Advisor Partners II LLC now owns 23,125 shares of the specialty retailer’s stock worth $2,006,000 after buying an additional 2,585 shares during the period. Finally, Park Avenue Securities LLC purchased a new stake in Alibaba Group during the 3rd quarter valued at $1,045,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $79.38 on Wednesday. The firm has a market capitalization of $201.43 billion, a P/E ratio of 14.65 and a beta of 0.44. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.12. The business’s fifty day simple moving average is $73.60 and its 200 day simple moving average is $75.11. Alibaba Group has a 12 month low of $66.63 and a 12 month high of $102.50.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $19.12 by ($0.15). Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The company had revenue of $260.35 billion for the quarter, compared to analysts’ expectations of $260.26 billion. During the same quarter in the previous year, the business earned $2.44 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts anticipate that Alibaba Group will post 7.54 EPS for the current year.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.