Alibaba Group (NYSE:BABA) Price Target Raised to $110.00 at Robert W. Baird

by · The Markets Daily

Alibaba Group (NYSE:BABA – Free Report) had its target price increased by Robert W. Baird from $88.00 to $110.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the specialty retailer’s stock.

Other equities analysts also recently issued research reports about the company. Sanford C. Bernstein increased their price target on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Benchmark reissued a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Friday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. JPMorgan Chase & Co. upped their price objective on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, Jefferies Financial Group restated a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

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Alibaba Group Price Performance

Alibaba Group stock traded up $1.54 during mid-day trading on Thursday, hitting $97.90. The stock had a trading volume of 1,537,187 shares, compared to its average volume of 17,788,506. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $93.46 and its 200 day moving average is $82.82. The firm has a market capitalization of $248.42 billion, a P/E ratio of 22.46, a P/E/G ratio of 0.55 and a beta of 0.35. Alibaba Group has a one year low of $66.63 and a one year high of $117.82.

Alibaba Group (NYSE:BABA – Get Free Report) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same period last year, the firm posted $2.47 earnings per share. Alibaba Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, sell-side analysts forecast that Alibaba Group will post 7.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

Several large investors have recently made changes to their positions in BABA. Assenagon Asset Management S.A. raised its holdings in Alibaba Group by 1,392.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after acquiring an additional 5,715,155 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Alibaba Group by 9,205.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after acquiring an additional 1,679,117 shares during the period. AMF Tjanstepension AB boosted its position in shares of Alibaba Group by 79.5% during the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after acquiring an additional 1,156,479 shares in the last quarter. Marshall Wace LLP increased its stake in Alibaba Group by 384.2% in the second quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock valued at $102,596,000 after acquiring an additional 1,130,643 shares during the period. Finally, Renaissance Technologies LLC raised its position in Alibaba Group by 523.8% in the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock worth $96,163,000 after purchasing an additional 1,121,500 shares in the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Company Profile

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Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.

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