Benchmark Reiterates “Buy” Rating for Alibaba Group (NYSE:BABA)

Benchmark reiterated their buy rating on shares of Alibaba Group (NYSE:BABA) in a report released on Friday,Benzinga reports. They currently have a $118.00 price target on the specialty retailer’s stock.

A number of other analysts have also commented on the company. Bank of America boosted their target price on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird boosted their target price on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Truist Financial decreased their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.53.

Alibaba Group Stock Down 2.2 %

Alibaba Group stock traded down $1.99 during midday trading on Friday, reaching $88.59. The stock had a trading volume of 31,018,266 shares, compared to its average volume of 17,693,400. Alibaba Group has a 12 month low of $66.63 and a 12 month high of $117.82. The company has a market capitalization of $212.12 billion, a P/E ratio of 23.19, a PEG ratio of 0.41 and a beta of 0.35. The company has a fifty day moving average price of $98.18 and a two-hundred day moving average price of $85.56. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same period in the previous year, the company posted $2.47 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts expect that Alibaba Group will post 8.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

Institutional investors have recently bought and sold shares of the company. Concord Wealth Partners lifted its stake in Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Alibaba Group in the second quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new position in Alibaba Group in the third quarter valued at approximately $36,000. First Command Advisory Services Inc. purchased a new position in Alibaba Group in the second quarter valued at approximately $25,000. Finally, GPS Wealth Strategies Group LLC lifted its stake in Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

About Alibaba Group

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.