Alibaba Group Holding Limited (BABA) PT Raised to $215.00 at Needham & Company LLC

Alibaba Group Holding Limited (NYSE:BABA) had its price objective lifted by stock analysts at Needham & Company LLC from $190.00 to $215.00 in a research note issued on Friday. The firm presently has a “buy” rating on the specialty retailer’s stock. Needham & Company LLC’s price target points to a potential upside of 17.35% from the company’s previous close.

Several other equities research analysts have also commented on the company. BidaskClub upgraded Alibaba Group Holding Limited from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays PLC upped their price target on Alibaba Group Holding Limited from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 31st. Vetr lowered Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $197.98 price target for the company. in a research note on Monday, October 30th. SunTrust Banks, Inc. restated a “buy” rating and set a $205.00 price target on shares of Alibaba Group Holding Limited in a research note on Friday, October 20th. Finally, KeyCorp set a $182.00 price target on Alibaba Group Holding Limited and gave the stock a “buy” rating in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $183.31.

Shares of Alibaba Group Holding Limited (NYSE BABA) traded down $1.60 during trading hours on Friday, reaching $183.21. The company’s stock had a trading volume of 19,697,343 shares, compared to its average volume of 17,747,468. The firm has a market capitalization of $469,229.06, a price-to-earnings ratio of 53.26, a PEG ratio of 1.56 and a beta of 2.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.74 and a quick ratio of 1.74. Alibaba Group Holding Limited has a 12 month low of $86.01 and a 12 month high of $191.22.

Alibaba Group Holding Limited (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 17th. The specialty retailer reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.21. The company had revenue of $7.40 billion during the quarter, compared to analyst estimates of $7.16 billion. Alibaba Group Holding Limited had a return on equity of 18.65% and a net margin of 30.87%. During the same period in the prior year, the firm posted $0.74 earnings per share. research analysts predict that Alibaba Group Holding Limited will post 3.96 EPS for the current year.

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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Suffolk Capital Management LLC increased its position in Alibaba Group Holding Limited by 83.1% in the 3rd quarter. Suffolk Capital Management LLC now owns 83,306 shares of the specialty retailer’s stock valued at $14,388,000 after acquiring an additional 37,812 shares during the period. FDx Advisors Inc. increased its position in Alibaba Group Holding Limited by 2.3% in the 3rd quarter. FDx Advisors Inc. now owns 21,213 shares of the specialty retailer’s stock valued at $3,664,000 after acquiring an additional 482 shares during the period. Global X MANAGEMENT CO LLC increased its position in Alibaba Group Holding Limited by 47.7% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 51,997 shares of the specialty retailer’s stock valued at $8,980,000 after acquiring an additional 16,783 shares during the period. Essex Financial Services Inc. increased its position in Alibaba Group Holding Limited by 27.3% in the 3rd quarter. Essex Financial Services Inc. now owns 16,737 shares of the specialty retailer’s stock valued at $2,891,000 after acquiring an additional 3,591 shares during the period. Finally, WESPAC Advisors SoCal LLC increased its position in Alibaba Group Holding Limited by 28.6% in the 3rd quarter. WESPAC Advisors SoCal LLC now owns 2,379 shares of the specialty retailer’s stock valued at $410,000 after acquiring an additional 529 shares during the period. Hedge funds and other institutional investors own 37.45% 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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