Alibaba (NYSE:BABA) was upgraded by equities research analysts at Vetr from a "sell" rating to a "hold" rating in a research note issued on Monday, MarketBeat reports. The brokerage currently has a $95.74 target price on the stock. Vetr's price objective suggests a potential downside of 2.55% from the stock's current price.
Shares of Alibaba opened at 98.25 on Monday. The firm's 50 day moving average is $82.56 and its 200-day moving average is $76.61. The firm has a market capitalization of $242.97 billion and a PE ratio of 34.83. Alibaba Group has a 12 month low of $57.20 and a 12 month high of $98.35.
Alibaba Group last issued its earnings results on Thursday, August 11th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.63 by $0.11. The company had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.57 billion. During the same quarter in the previous year, the firm posted $0.59 earnings per share.
On average, analysts expect that Alibaba Group will post $3.30 EPS for the current fiscal year.
Several other research firms have also commented on BABA. Citigroup boosted their price objective on shares of Alibaba Group Holding from $104.00 to $112.00 and gave the stock a "buy" rating in a research report on Saturday. Robert W. Baird reiterated an "outperform" rating and issued a $104.00 price objective (up from $94.00) on shares of Alibaba Group in a research report on Saturday.
Needham & Company LLC reiterated a "buy" rating and issued a $105.00 price objective (up from $95.00) on shares of Alibaba Group in a research report on Saturday. Goldman Sachs boosted their price objective on shares of Alibaba Group from $104.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday. Finally, JPMorgan Chase & Co decreased their price objective on shares of Alibaba Group from $129.00 to $96.00 and set an "overweight" rating on the stock in a research report on Friday.
Six equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company's stock. Alibaba Group presently has an average rating of "Buy" and an average target price of $102.04.
A number of large investors recently modified their holdings of the company. Cornerstone Advisors Inc. raised its stake in shares of Alibaba Group by 2.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,594 shares of the company's stock valued at $127,000 after buying an additional 39 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Alibaba Group during the second quarter worth approximately $207,000.
Eqis Capital Management Inc. raised its position in shares of Alibaba Group by 9.2% in the second quarter. Eqis Capital Management Inc. now owns 2,788 shares of the company's stock worth $222,000 after buying an additional 234 shares during the period. SignalPoint Asset Management LLC raised its position in shares of Alibaba Group by 4.9% in the second quarter. SignalPoint Asset Management LLC now owns 2,844 shares of the company's stock worth $226,000 after buying an additional 132 shares during the period.
Finally, Cupps Capital Management LLC raised its position in shares of Alibaba Group by 23.8% in the first quarter. Cupps Capital Management LLC now owns 3,059 shares of the company's stock worth $241,000 after buying an additional 589 shares during the period.
Company
Alibaba Group Holding Limited is a holding company. The Company is principally engaged in online and mobile commerce through products, services and technology. The Company provides retail and wholesale marketplaces available through both personal computer and mobile interfaces in the PRC and internationally.