They now have a buy rating on the specialty retailer's stock.
BABA has been the topic of a number of recent research reports. Macquarie restated an "outperform" rating and issued a $120.00 target price on shares of Alibaba Group Holding in a report on Tuesday, January 24th.
The company has elevated Jack Huang, President of Overseas Business, Alibaba Mobile Business Group to President of Alibaba Mobile Business Group. Barclays PLC raised their price target on Alibaba Group Holding from $130.00 to $132.00 and gave the stock an "overweight" rating in a report on Wednesday, May 10th. This is based on a 1-5 scale where 1 indicates a Strong Buy and 5 a Strong Sell. The company presently has a consensus rating of "Buy" and a consensus target price of $126.00.
Alibaba Group Holding Limited (BABA) added 0.46% to reach $121.27 in the previous trading session. 11,750,635 shares of the company were exchanged. The company has a market capitalization of $301.36 billion, a PE ratio of 55.83 and a beta of 2.73. Additionally, BABA had a day price range of $114 to $122.63.
Most recently Alibaba Group Holding Ltd (NYSE:BABA)'s price target was revised on 5/17/17 and according to 40 analysts stock's price will reach at $133.17 during 52 weeks with standard deviation of 12.04.
In terms of Buy, Sell or Hold recommendations, Alibaba Group Holding Ltd (NYSE:BABA) has analysts' mean recommendation of 1.6. The specialty retailer reported $0.63 EPS for the quarter, missing the Zacks' consensus estimate of $0.64 by $0.01. Alibaba Group Holding had a net margin of 26.56% and a return on equity of 14.88%.
"We reported another excellent quarter, with revenue growth accelerating to 60%, the highest growth rate we've achieved since our IPO", Alibaba's chief financial officer Maggie Wu was quoted as saying in a phone conference announcing results. Its full-year earnings per share stood at 16.97 yuan. Equities analysts anticipate that Alibaba Group Holding will post $4.25 earnings per share for the current year.
Analysis of expected and actual earnings for Alibaba Group Holding Limited (BABA)? If you are reading this report on another publication, it was stolen and reposted in violation of United States and global copyright and trademark laws. The original version of this news story can be read at https://sportsperspectives.com/2017/05/19/alibaba-group-holding-ltd-baba-rating-reiterated-by-mkm-partners.html. Institutional investors own 35.17% of the company's stock.
The firm said, however, that overall earnings in the quarter were hit by tax increases after a local tax reduction linked to Alibaba's investment in Chinese electronics retailer Suning Commerce Group Co Ltd expired. During the last six months the stock climbed 33.26%. The stock witnessed -8.28% declines, -10.14% declines and -63.56% declines for the 1-month, 3-month and 6-month period, respectively. Finally, Webster Bank N.A. increased its stake in Alibaba Group Holding by 25.0% in the first quarter.
Alibaba Group Holding Limited is a holding company.