Alibaba Group Holding Limited (NYSE:BABA) had its target price raised by Bank of America Corporation from $180.00 to $193.00 in a report published on Friday morning. The brokerage currently has a buy rating on the specialty retailer’s stock.

Several other analysts have also recently issued reports on BABA. Vetr cut Alibaba Group Holding Limited from a strong-buy rating to a buy rating and set a $175.06 price objective on the stock. in a report on Wednesday, August 16th. Royal Bank Of Canada upped their price objective on Alibaba Group Holding Limited from $160.00 to $185.00 and gave the stock an outperform rating in a report on Friday. KeyCorp set a $182.00 price objective on Alibaba Group Holding Limited and gave the stock an overweight rating in a report on Friday. Macquarie upped their price objective on Alibaba Group Holding Limited from $171.00 to $200.00 and gave the stock an outperform rating in a report on Friday. Finally, UBS AG upped their price objective on Alibaba Group Holding Limited from $175.00 to $200.00 and gave the stock a buy rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the stock. Alibaba Group Holding Limited currently has a consensus rating of Buy and an average price target of $163.29.

Shares of Alibaba Group Holding Limited (NYSE BABA) opened at 169.25 on Friday. The stock has a 50 day moving average of $153.23 and a 200-day moving average of $125.40. Alibaba Group Holding Limited has a one year low of $86.01 and a one year high of $170.60. The stock has a market capitalization of $430.40 billion, a P/E ratio of 57.37 and a beta of 2.64.

Alibaba Group Holding Limited (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.21. Alibaba Group Holding Limited had a return on equity of 16.85% and a net margin of 28.77%. The business had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $7.16 billion. During the same period in the prior year, the company posted $0.74 EPS. Equities analysts forecast that Alibaba Group Holding Limited will post $4.85 earnings per share for the current year.

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Alibaba Group Holding Limited announced that its board has approved a share buyback plan on Thursday, May 18th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

A number of large investors have recently bought and sold shares of BABA. BlackRock Inc. increased its stake in Alibaba Group Holding Limited by 2,538.7% in the first quarter. BlackRock Inc. now owns 56,989,001 shares of the specialty retailer’s stock worth $6,145,123,000 after buying an additional 54,829,289 shares in the last quarter. FMR LLC increased its stake in Alibaba Group Holding Limited by 42.5% in the second quarter. FMR LLC now owns 25,278,081 shares of the specialty retailer’s stock worth $3,561,681,000 after buying an additional 7,544,165 shares in the last quarter. Fisher Asset Management LLC increased its stake in Alibaba Group Holding Limited by 87.4% in the second quarter. Fisher Asset Management LLC now owns 10,318,873 shares of the specialty retailer’s stock worth $1,453,929,000 after buying an additional 4,813,431 shares in the last quarter. Third Point LLC acquired a new stake in Alibaba Group Holding Limited during the second quarter worth approximately $634,050,000. Finally, Hillhouse Capital Management Ltd. increased its stake in Alibaba Group Holding Limited by 38,449.4% in the second quarter. Hillhouse Capital Management Ltd. now owns 3,570,449 shares of the specialty retailer’s stock worth $503,076,000 after buying an additional 3,561,187 shares in the last quarter. Institutional investors own 36.81% of the company’s stock.

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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