Equities researchers at SunTrust Banks, Inc. initiated coverage on shares of Alibaba Group Holding Limited (NYSE:BABA) in a research note issued on Tuesday, The Fly reports. The firm set a “buy” rating on the specialty retailer’s stock.

Several other analysts have also recently commented on the company. Zacks Investment Research upgraded Alibaba Group Holding Limited from a “hold” rating to a “strong-buy” rating and set a $157.00 price target for the company in a report on Thursday, June 15th. Royal Bank Of Canada restated a “buy” rating and issued a $120.00 price target on shares of Alibaba Group Holding Limited in a report on Tuesday, May 16th. Barclays PLC lifted their price target on Alibaba Group Holding Limited from $130.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, May 10th. Bank of America Corporation restated a “buy” rating and issued a $161.00 price target (up previously from $144.00) on shares of Alibaba Group Holding Limited in a report on Sunday, June 11th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $160.00 price target (up previously from $122.00) on shares of Alibaba Group Holding Limited in a report on Monday, June 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the stock. Alibaba Group Holding Limited presently has a consensus rating of “Buy” and an average price target of $148.04.

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded up 2.03% on Tuesday, reaching $157.75. 18,635,683 shares of the company’s stock traded hands. Alibaba Group Holding Limited has a 52 week low of $86.01 and a 52 week high of $160.39. The stock has a market capitalization of $399.11 billion, a price-to-earnings ratio of 62.43 and a beta of 2.64. The stock’s 50-day moving average price is $150.57 and its 200-day moving average price is $123.55.

Alibaba Group Holding Limited (NYSE:BABA) last announced its earnings results on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by $0.01. Alibaba Group Holding Limited had a net margin of 27.51% and a return on equity of 15.40%. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same period in the previous year, the firm posted $0.47 EPS. Equities analysts predict that Alibaba Group Holding Limited will post $4.65 EPS for the current year.

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

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Several large investors have recently bought and sold shares of the stock. Reliance Trust Co. of Delaware raised its stake in Alibaba Group Holding Limited by 31.5% in the first quarter. Reliance Trust Co. of Delaware now owns 10,216 shares of the specialty retailer’s stock valued at $1,101,000 after buying an additional 2,448 shares in the last quarter. Hartwell J M Limited Partnership raised its stake in Alibaba Group Holding Limited by 6.1% in the first quarter. Hartwell J M Limited Partnership now owns 49,750 shares of the specialty retailer’s stock valued at $5,365,000 after buying an additional 2,850 shares in the last quarter. CWM LLC raised its stake in Alibaba Group Holding Limited by 2.7% in the first quarter. CWM LLC now owns 11,665 shares of the specialty retailer’s stock valued at $1,258,000 after buying an additional 304 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in Alibaba Group Holding Limited by 6.1% in the first quarter. State of New Jersey Common Pension Fund D now owns 893,522 shares of the specialty retailer’s stock valued at $96,348,000 after buying an additional 51,629 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Alibaba Group Holding Limited by 4.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 47,222 shares of the specialty retailer’s stock valued at $5,092,000 after buying an additional 1,912 shares in the last quarter. 36.81% of the stock is currently owned by institutional investors and hedge funds.

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.

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

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