Alibaba Group Holding Limited (NYSE:BABA) Stock Rating Reaffirmed by Instinet

Instinet reaffirmed their buy rating on shares of Alibaba Group Holding Limited (NYSE:BABA) in a research note released on Saturday, July 22nd.

BABA has been the topic of several other research reports. CIBC lifted their price target on shares of Alibaba Group Holding Limited from $130.00 to $140.00 and gave the stock an outperform rating in a research report on Tuesday, May 23rd. JPMorgan Chase & Co. initiated coverage on shares of Alibaba Group Holding Limited in a research report on Tuesday, June 27th. They issued an overweight rating and a $190.00 price target on the stock. Oppenheimer Holdings, Inc. restated an outperform rating and issued a $140.00 price target (up previously from $130.00) on shares of Alibaba Group Holding Limited in a research report on Monday, May 22nd. Robert W. Baird restated an outperform rating and issued a $135.00 price target (up previously from $116.00) on shares of Alibaba Group Holding Limited in a research report on Friday, May 19th. Finally, Needham & Company LLC lifted their price target on shares of Alibaba Group Holding Limited from $135.00 to $140.00 and gave the stock a buy rating in a research report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-one have issued a buy rating and three have issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $142.21.

Shares of Alibaba Group Holding Limited (NYSE:BABA) opened at 151.70 on Friday. The stock’s 50 day moving average price is $149.81 and its 200 day moving average price is $122.49. Alibaba Group Holding Limited has a 52 week low of $86.01 and a 52 week high of $160.39. The stock has a market cap of $383.80 billion, a price-to-earnings ratio of 60.03 and a beta of 2.64.

Alibaba Group Holding Limited (NYSE:BABA) last posted its quarterly earnings data on Thursday, May 18th. The specialty retailer reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.01. Alibaba Group Holding Limited had a net margin of 27.51% and a return on equity of 15.40%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the prior year, the business earned $0.47 EPS. Equities research analysts anticipate that Alibaba Group Holding Limited will post $4.64 EPS for the current fiscal year.

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Alibaba Group Holding Limited declared that its board has initiated a stock repurchase program on Thursday, May 18th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new position in Alibaba Group Holding Limited during the fourth quarter valued at about $31,651,000. UBS Asset Management Americas Inc. increased its position in Alibaba Group Holding Limited by 7.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 10,167,080 shares of the specialty retailer’s stock valued at $892,772,000 after buying an additional 676,000 shares during the last quarter. HighPoint Advisor Group LLC increased its position in Alibaba Group Holding Limited by 10.0% in the fourth quarter. HighPoint Advisor Group LLC now owns 4,545 shares of the specialty retailer’s stock valued at $473,000 after buying an additional 414 shares during the last quarter. Macquarie Group Ltd. increased its position in Alibaba Group Holding Limited by 10.2% in the fourth quarter. Macquarie Group Ltd. now owns 1,635,764 shares of the specialty retailer’s stock valued at $143,627,000 after buying an additional 151,640 shares during the last quarter. Finally, Atalanta Sosnoff Capital LLC increased its position in Alibaba Group Holding Limited by 22.9% in the first quarter. Atalanta Sosnoff Capital LLC now owns 452,439 shares of the specialty retailer’s stock valued at $48,786,000 after buying an additional 84,437 shares during the last quarter. Institutional investors own 36.75% of the company’s stock.

About Alibaba Group Holding Limited

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, 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 (China) and internationally.

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