Alibaba Group Holding Ltd (BABA) Coverage Initiated at Pacific Crest

Pacific Crest initiated coverage on shares of Alibaba Group Holding Ltd (NYSE:BABA) in a research note published on Wednesday. The firm issued an overweight rating and a $134.00 price objective on the specialty retailer’s stock.

A number of other equities research analysts have also issued reports on BABA. Needham & Company LLC reaffirmed a buy rating and set a $125.00 target price on shares of Alibaba Group Holding in a report on Saturday, November 26th. Robert W. Baird reissued an outperform rating and issued a $110.00 price objective on shares of Alibaba Group Holding in a report on Wednesday, November 30th. Brean Capital reissued a buy rating on shares of Alibaba Group Holding in a report on Tuesday, December 6th. Morgan Stanley initiated coverage on shares of Alibaba Group Holding in a report on Thursday, December 8th. They issued an overweight rating and a $130.00 price objective for the company. Finally, Macquarie reaffirmed an outperform rating and set a $120.00 target price on shares of Alibaba Group Holding in a research note on Thursday, December 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-eight have given a buy rating and three have issued a strong buy rating to the stock. Alibaba Group Holding currently has a consensus rating of Buy and a consensus price target of $124.33.

Alibaba Group Holding (NYSE:BABA) traded up 2.03% on Wednesday, reaching $113.01. 12,160,400 shares of the company were exchanged. Alibaba Group Holding has a 12-month low of $73.30 and a 12-month high of $113.60. The firm has a 50-day moving average of $106.95 and a 200 day moving average of $99.94. The firm has a market capitalization of $280.83 billion, a P/E ratio of 52.08 and a beta of 2.73.

Alibaba Group Holding (NYSE:BABA) last released its earnings results on Tuesday, January 24th. The specialty retailer reported $1.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.13 by $0.04. Alibaba Group Holding had a return on equity of 14.88% and a net margin of 26.56%. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.32 billion. During the same period in the previous year, the company earned $0.99 EPS. On average, equities analysts predict that Alibaba Group Holding will post $3.48 earnings per share for the current year.

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Hedge funds have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. boosted its stake in Alibaba Group Holding by 0.6% in the third quarter. Cullen Frost Bankers Inc. now owns 3,557 shares of the specialty retailer’s stock valued at $376,000 after buying an additional 20 shares during the period. Kistler Tiffany Companies LLC boosted its stake in Alibaba Group Holding by 0.6% in the third quarter. Kistler Tiffany Companies LLC now owns 5,533 shares of the specialty retailer’s stock valued at $585,000 after buying an additional 33 shares during the period. Silvercrest Asset Management Group LLC boosted its stake in Alibaba Group Holding by 2.5% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 2,490 shares of the specialty retailer’s stock valued at $219,000 after buying an additional 60 shares during the period. Ruggie Capital Group boosted its stake in Alibaba Group Holding by 2.2% in the third quarter. Ruggie Capital Group now owns 3,393 shares of the specialty retailer’s stock valued at $359,000 after buying an additional 74 shares during the period. Finally, Raymond James Trust N.A. boosted its stake in Alibaba Group Holding by 0.9% in the first quarter. Raymond James Trust N.A. now owns 11,220 shares of the specialty retailer’s stock valued at $1,210,000 after buying an additional 98 shares during the period. Institutional investors own 35.17% of the company’s stock.

Alibaba Group Holding Company Profile

Alibaba Group Holding Limited is a holding company. 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 (the PRC or China) and internationally.

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