Alibaba Group Holding Limited (NYSE:BABA) Given “Buy” Rating at Instinet

Instinet reiterated their buy rating on shares of Alibaba Group Holding Limited (NYSE:BABA) in a research report sent to investors on Saturday, July 22nd.

A number of other research analysts have also commented on BABA. Royal Bank Of Canada reiterated a buy rating and issued a $120.00 price target on shares of Alibaba Group Holding Limited in a research note on Tuesday, May 16th. Zacks Investment Research upgraded shares of Alibaba Group Holding Limited from a hold rating to a strong-buy rating and set a $157.00 target price on the stock in a research report on Thursday, June 15th. CIBC increased their target price 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. Goldman Sachs Group, Inc. (The) set a $179.00 target price on shares of Alibaba Group Holding Limited and gave the stock a buy rating in a research report on Friday, June 9th. Finally, Sanford C. Bernstein increased their target price on shares of Alibaba Group Holding Limited from $130.00 to $135.00 and gave the stock an outperform rating in a research report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. Alibaba Group Holding Limited has a consensus rating of Buy and a consensus price target of $161.60.

Shares of Alibaba Group Holding Limited (BABA) traded up 2.18% on Friday, hitting $167.50. The company’s stock had a trading volume of 31,492,502 shares. The company has a 50 day moving average of $152.41 and a 200 day moving average of $124.57. Alibaba Group Holding Limited has a 1-year low of $86.01 and a 1-year high of $169.50. The firm has a market cap of $425.95 billion, a PE ratio of 56.78 and a beta of 2.64. Alibaba Group Holding Limited also saw unusually large options trading activity on Wednesday. Stock traders acquired 85,508 put options on the stock. This represents an increase of 228% compared to the average volume of 26,062 put options.

Alibaba Group Holding Limited (NYSE:BABA) last released its quarterly earnings data on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.21. The company had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.16 billion. Alibaba Group Holding Limited had a net margin of 28.77% and a return on equity of 17.42%. During the same period in the previous year, the business earned $0.74 EPS. Equities analysts forecast that Alibaba Group Holding Limited will post $4.74 EPS for the current year.

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

A number of hedge funds have recently made changes to their positions in BABA. Quadrature Capital Ltd bought a new stake in shares of Alibaba Group Holding Limited during the fourth quarter valued at approximately $31,651,000. UBS Asset Management Americas Inc. raised its stake in shares of 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 in the last quarter. HighPoint Advisor Group LLC raised its stake in shares of 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 in the last quarter. Macquarie Group Ltd. raised its stake in shares of 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 in the last quarter. Finally, Atalanta Sosnoff Capital LLC raised its stake in shares of 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 in the last quarter. 36.81% of the stock is currently owned by institutional investors and hedge funds.

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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