Alibaba Group (NYSE:BABA) Price Target Cut to $243.00

Alibaba Group (NYSE:BABA) had its price objective reduced by stock analysts at KeyCorp from $245.00 to $243.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the specialty retailer’s stock. KeyCorp’s target price would indicate a potential upside of 38.63% from the stock’s previous close.

Several other equities analysts also recently issued reports on the company. HSBC upped their target price on Alibaba Group from $230.00 to $233.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Oppenheimer set a $215.00 target price on Alibaba Group and gave the company a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada set a $210.00 target price on Alibaba Group and gave the company a “buy” rating in a research report on Monday, August 12th. ValuEngine downgraded Alibaba Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Goldman Sachs Group set a $236.00 target price on Alibaba Group and gave the company a “buy” rating in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $223.04.

NYSE BABA opened at $175.29 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.38 and a quick ratio of 1.38. The stock’s fifty day moving average price is $173.19 and its 200 day moving average price is $172.02. Alibaba Group has a 1 year low of $129.77 and a 1 year high of $195.72. The company has a market cap of $446.01 billion, a price-to-earnings ratio of 48.83, a PEG ratio of 1.06 and a beta of 2.27.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 15th. The specialty retailer reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.32. Alibaba Group had a return on equity of 14.36% and a net margin of 24.40%. The firm had revenue of $114.92 billion for the quarter, compared to the consensus estimate of $111.65 billion. During the same period in the prior year, the firm earned $1.01 EPS. The firm’s revenue was up 42.0% on a year-over-year basis. Research analysts expect that Alibaba Group will post 5.81 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Alibaba Group by 9.5% during the 2nd quarter. BlackRock Inc. now owns 78,533,960 shares of the specialty retailer’s stock worth $13,307,578,000 after acquiring an additional 6,830,518 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Alibaba Group by 9.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 65,655,896 shares of the specialty retailer’s stock worth $11,125,391,000 after acquiring an additional 5,932,300 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Alibaba Group by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 43,961,866 shares of the specialty retailer’s stock worth $7,449,339,000 after acquiring an additional 641,497 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Alibaba Group by 204.2% during the 2nd quarter. Invesco Ltd. now owns 32,935,629 shares of the specialty retailer’s stock worth $5,580,942,000 after acquiring an additional 22,110,348 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Alibaba Group by 7.5% during the 2nd quarter. Schroder Investment Management Group now owns 24,523,571 shares of the specialty retailer’s stock worth $4,155,519,000 after acquiring an additional 1,711,439 shares in the last quarter. 43.43% of the stock is currently owned by institutional investors.

Alibaba Group Company Profile

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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