Stifel Nicolaus Reiterates “Buy” Rating for Alibaba Group Holding (BABA)

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Alibaba Group Holding (NYSE:BABA)‘s stock had its “buy” rating reaffirmed by stock analysts at Stifel Nicolaus in a report issued on Friday, Marketbeat reports. They currently have a $120.00 price objective on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 49.44% from the company’s current price.

A number of other analysts have also recently weighed in on BABA. Analysts at Zacksdowngraded shares of Alibaba Group Holding from a “hold” rating to a “sell” rating in a research note on Wednesday. Analysts at Credit Suisse reiterated a “buy” rating and set a $114.00 price target on shares of Alibaba Group Holding in a research note on Wednesday. Analysts at CLSA reiterated a “buy” rating on shares of Alibaba Group Holding in a research note on Monday, July 6th. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating and set a $104.00 price target (down previously from $110.00) on shares of Alibaba Group Holding in a research note on Thursday, July 2nd. Finally, analysts at Cantor Fitzgerald reiterated a “buy” rating and set a $110.00 price target on shares of Alibaba Group Holding in a research note on Friday, June 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $107.22.

Alibaba Group Holding (NYSE:BABA) opened at 80.30 on Friday. Alibaba Group Holding has a 52 week low of $76.21 and a 52 week high of $120.00. The stock has a 50-day moving average of $86.22 and a 200-day moving average of $88.42. The company’s market cap is $201.75 billion.

Alibaba Group Holding (NYSE:BABA) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.28 by $0.20. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 44.7% on a year-over-year basis. On average, analysts predict that Alibaba Group Holding will post $2.80 earnings per share for the current fiscal year.

Alibaba Group Holding Limited is a China-based online and mobile commerce company in retail and wholesale trade, as well as cloud computing and other services. The Company provides technology and services to enable consumers, merchants, and other participants to conduct commerce in its ecosystem. The Company operates Taobao Marketplace, an online shopping destination, Tmall, a third-party platform for brands and retailers and Juhuasuan. The Company provides the fundamental technology infrastructure and marketing reach to help businesses leverage the power of the Internet to establish an online presence and conduct commerce with consumers and businesses. The Company takes a platform approach to shipping and delivery by working with third-party logistics service providers through a central logistics information system operated by Zhejiang Cainiao Supply Chain Management Co., Ltd., or China Smart Logistics.

 

[“source – wkrb13.com”]