Vetr Inc. Downgrades Alibaba Group Holding Limited (BABA) to Buy

Alibaba Group Holding Limited (NYSE:BABA) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday. They presently have a $193.24 price target on the specialty retailer’s stock. Vetr‘s price objective would suggest a potential upside of 11.02% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on BABA. Robert W. Baird lifted their price objective on Alibaba Group Holding Limited from $170.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 18th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $208.00 price objective (up from $200.00) on shares of Alibaba Group Holding Limited in a research note on Sunday, August 20th. CIBC lifted their price objective on Alibaba Group Holding Limited from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Tuesday, May 23rd. J P Morgan Chase & Co assumed coverage on Alibaba Group Holding Limited in a research note on Tuesday, June 27th. They issued an “overweight” rating and a $190.00 price objective for the company. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $140.00 price objective (up from $130.00) on shares of Alibaba Group Holding Limited in a research note on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the stock. Alibaba Group Holding Limited has a consensus rating of “Buy” and an average price target of $169.20.

Alibaba Group Holding Limited (NYSE BABA) opened at 174.06 on Tuesday. The company has a market cap of $442.63 billion, a P/E ratio of 59.06 and a beta of 2.62. Alibaba Group Holding Limited has a 12 month low of $86.01 and a 12 month high of $177.00. The firm has a 50-day moving average price of $162.19 and a 200 day moving average price of $132.13.

Alibaba Group Holding Limited (NYSE:BABA) last posted its earnings results on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.21. The company had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $7.16 billion. Alibaba Group Holding Limited had a return on equity of 16.85% and a net margin of 28.77%. During the same quarter last year, the firm earned $0.74 earnings per share. Equities research analysts predict that Alibaba Group Holding Limited will post $5.10 EPS for the current year.

Alibaba Group Holding Limited announced that its board has approved a stock buyback plan on Thursday, May 18th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

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A number of institutional investors and hedge funds have recently bought and sold shares of BABA. First Trust Advisors LP raised its stake in Alibaba Group Holding Limited by 34.6% during the 1st quarter. First Trust Advisors LP now owns 144,165 shares of the specialty retailer’s stock valued at $15,545,000 after acquiring an additional 37,066 shares during the last quarter. Comerica Bank raised its stake in Alibaba Group Holding Limited by 1.2% during the 1st quarter. Comerica Bank now owns 114,315 shares of the specialty retailer’s stock valued at $13,195,000 after acquiring an additional 1,407 shares during the last quarter. Xact Kapitalforvaltning AB raised its stake in Alibaba Group Holding Limited by 2.5% during the 1st quarter. Xact Kapitalforvaltning AB now owns 217,847 shares of the specialty retailer’s stock valued at $23,490,000 after acquiring an additional 5,310 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Alibaba Group Holding Limited by 54.3% during the 1st quarter. Handelsbanken Fonder AB now owns 1,051,750 shares of the specialty retailer’s stock valued at $113,410,000 after acquiring an additional 370,000 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in Alibaba Group Holding Limited by 9.8% during the 1st quarter. Pictet Asset Management Ltd. now owns 2,673,122 shares of the specialty retailer’s stock valued at $288,243,000 after acquiring an additional 237,875 shares during the last quarter. 37.40% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Alibaba Group Holding Limited (NYSE:BABA)

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