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

Alibaba Group (NYSE:BABA)‘s stock had its “buy” rating reissued by investment analysts at Benchmark in a research report issued on Friday,Benzinga reports. They presently have a $118.00 target price on the specialty retailer’s stock. Benchmark’s target price would suggest a potential upside of 33.20% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. Robert W. Baird increased their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Susquehanna decreased their price objective on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Jefferies Financial Group restated a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a research note on Friday, July 26th. StockNews.com lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Truist Financial cut their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $114.53.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $88.59 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock has a market cap of $212.12 billion, a P/E ratio of 23.19, a P/E/G ratio of 0.41 and a beta of 0.35. The stock has a 50 day moving average of $98.18 and a two-hundred day moving average of $85.56. Alibaba Group has a twelve month low of $66.63 and a twelve month high of $117.82.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate of $1.87 by $14.57. The firm had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. Alibaba Group’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.47 EPS. On average, research analysts forecast that Alibaba Group will post 8.51 earnings per share for the current year.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors and hedge funds have recently modified their holdings of BABA. First Command Advisory Services Inc. purchased a new stake in Alibaba Group during the second quarter worth $25,000. GPS Wealth Strategies Group LLC raised its stake in shares of Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after buying an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Alibaba Group in the 2nd quarter worth about $27,000. Concord Wealth Partners grew its stake in Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 155 shares during the last quarter. Finally, Highline Wealth Partners LLC purchased a new position in Alibaba Group during the 3rd quarter valued at about $36,000. Institutional investors and hedge funds 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.