Alibaba Group (BABA) PT Lowered to $280.00

Alibaba Group (BABA) PT Lowered to $280.00

Alibaba Group (NYSE:BABA) had its price target lowered by investment analysts at Raymond James from $285.00 to $280.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “strong-buy” rating on the specialty retailer’s stock. Raymond James’ price target suggests a potential upside of 58.21% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Morgan Stanley set a $196.00 price target on shares of Alibaba Group and gave the stock a “buy” rating in a research note on Tuesday, March 26th. SunTrust Banks reiterated a “buy” rating and set a $200.00 price target on shares of Alibaba Group in a research note on Wednesday. Mizuho lifted their price objective on shares of Alibaba Group from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus lifted their price objective on shares of Alibaba Group from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Benchmark lifted their price objective on shares of Alibaba Group from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Alibaba Group currently has a consensus rating of “Buy” and an average price target of $216.67.

NYSE:BABA traded up $2.14 during midday trading on Thursday, hitting $176.98. 7,750,221 shares of the company were exchanged, compared to its average volume of 14,036,352. Alibaba Group has a fifty-two week low of $129.77 and a fifty-two week high of $211.70. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $435.42 billion, a P/E ratio of 43.92, a P/E/G ratio of 1.41 and a beta of 2.27.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Wednesday, May 15th. The specialty retailer reported $8.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $7.82. Alibaba Group had a net margin of 19.87% and a return on equity of 12.44%. The firm had revenue of $93.50 billion for the quarter, compared to analyst estimates of $91.68 billion. During the same period last year, the business earned $5.73 EPS. Alibaba Group’s revenue for the quarter was up 51.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Alibaba Group will post 3.67 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Successful Portfolios LLC lifted its holdings in shares of Alibaba Group by 3.8% in the first quarter. Successful Portfolios LLC now owns 1,520 shares of the specialty retailer’s stock valued at $277,000 after purchasing an additional 55 shares in the last quarter. Cypress Wealth Services LLC lifted its holdings in shares of Alibaba Group by 3.8% in the first quarter. Cypress Wealth Services LLC now owns 1,515 shares of the specialty retailer’s stock valued at $276,000 after purchasing an additional 56 shares in the last quarter. Balentine LLC lifted its holdings in shares of Alibaba Group by 21.7% in the first quarter. Balentine LLC now owns 331 shares of the specialty retailer’s stock valued at $60,000 after purchasing an additional 59 shares in the last quarter. Regentatlantic Capital LLC lifted its holdings in shares of Alibaba Group by 2.4% in the first quarter. Regentatlantic Capital LLC now owns 2,598 shares of the specialty retailer’s stock valued at $474,000 after purchasing an additional 61 shares in the last quarter. Finally, Carret Asset Management LLC lifted its holdings in shares of Alibaba Group by 0.4% in the first quarter. Carret Asset Management LLC now owns 16,939 shares of the specialty retailer’s stock valued at $3,091,000 after purchasing an additional 63 shares in the last quarter. 40.49% of the stock is currently owned by hedge funds and other institutional investors.

About Alibaba Group

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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