Alibaba Group (NYSE:BABA) Price Target Raised to $245.00 at KeyCorp

Alibaba Group (NYSE:BABA) had its target price hoisted by KeyCorp from $240.00 to $245.00 in a research note issued to investors on Friday morning, 24/7 WallStreet reports. KeyCorp currently has an overweight rating on the specialty retailer’s stock.

Several other equities analysts also recently commented on BABA. Loop Capital started coverage on Alibaba Group in a research report on Monday, June 3rd. They set a buy rating and a $250.00 target price for the company. Barclays raised their target price on Alibaba Group from $220.00 to $225.00 and gave the stock an overweight rating in a research report on Monday, May 20th. Mizuho raised their target price on Alibaba Group from $215.00 to $225.00 and gave the stock a buy rating in a research report on Thursday, May 16th. TH Capital raised their target price on Alibaba Group from $180.00 to $220.00 in a research report on Monday, May 13th. Finally, Macquarie set a $226.00 target price on Alibaba Group and gave the stock a buy rating in a research report on Wednesday, June 19th. One research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Alibaba Group currently has a consensus rating of Buy and a consensus target price of $218.89.

Shares of NYSE:BABA traded up $7.63 during trading on Friday, hitting $174.60. 25,365,500 shares of the stock were exchanged, compared to its average volume of 18,912,960. Alibaba Group has a 1-year low of $129.77 and a 1-year high of $195.72. The company has a market capitalization of $444.25 billion, a price-to-earnings ratio of 48.64, a price-to-earnings-growth ratio of 1.45 and a beta of 2.30. The company’s fifty day simple moving average is $169.46 and its 200-day simple moving average is $172.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.30 and a current ratio of 1.30.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $1.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.32. Alibaba Group had a return on equity of 12.72% and a net margin of 23.17%. The company had revenue of $114.92 billion for the quarter, compared to analyst estimates of $111.65 billion. During the same quarter last year, the firm earned $1.01 EPS. Alibaba Group’s revenue for the quarter was up 42.0% compared to the same quarter last year. On average, research analysts forecast that Alibaba Group will post 5.04 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of BABA. RDA Financial Network acquired a new stake in shares of Alibaba Group in the 1st quarter valued at $1,341,000. M Holdings Securities Inc. increased its stake in shares of Alibaba Group by 8.5% in the 1st quarter. M Holdings Securities Inc. now owns 8,790 shares of the specialty retailer’s stock valued at $1,604,000 after buying an additional 685 shares during the period. Soma Equity Partners LP increased its stake in shares of Alibaba Group by 6.7% in the 1st quarter. Soma Equity Partners LP now owns 480,000 shares of the specialty retailer’s stock valued at $87,576,000 after buying an additional 30,000 shares during the period. Dixon Hubard Feinour & Brown Inc. VA increased its stake in shares of Alibaba Group by 5.5% in the 1st quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 25,166 shares of the specialty retailer’s stock valued at $4,592,000 after buying an additional 1,320 shares during the period. Finally, TCG Advisors LP acquired a new stake in shares of Alibaba Group in the 1st quarter valued at $105,000. Hedge funds and other institutional investors own 41.06% of the company’s stock.

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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