Alibaba Group (NYSE:BABA) Given New $243.00 Price Target at KeyCorp

Alibaba Group (NYSE:BABA) had its price target lowered by KeyCorp from $245.00 to $243.00 in a research report released on Wednesday, BenzingaRatingsTable reports. KeyCorp currently has an overweight rating on the specialty retailer’s stock.

A number of other analysts have also recently weighed in on BABA. Stifel Nicolaus set a $225.00 price objective on Alibaba Group and gave the stock a buy rating in a research report on Tuesday, September 24th. Morgan Stanley set a $207.00 price target on Alibaba Group and gave the company a buy rating in a report on Friday, September 27th. Oppenheimer set a $215.00 price target on Alibaba Group and gave the company a buy rating in a report on Tuesday, September 17th. Royal Bank of Canada set a $210.00 price target on Alibaba Group and gave the company a buy rating in a report on Monday, August 12th. Finally, Jefferies Financial Group started coverage on Alibaba Group in a report on Monday, August 5th. They issued a buy rating and a $216.00 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $223.48.

Alibaba Group stock opened at $169.13 on Wednesday. Alibaba Group has a twelve month low of $129.77 and a twelve month high of $195.72. The stock has a 50 day moving average of $173.65 and a two-hundred day moving average of $171.93. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $449.98 billion, a price-to-earnings ratio of 37.39, a PEG ratio of 1.09 and a beta of 2.27.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.32. Alibaba Group had a return on equity of 14.36% and a net margin of 24.40%. The company had revenue of $114.92 billion during the quarter, compared to analysts’ expectations of $111.65 billion. During the same period last year, the firm earned $1.01 EPS. The firm’s revenue for the quarter was up 42.0% on a year-over-year basis. Equities analysts predict that Alibaba Group will post 5.73 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BABA. USS Investment Management Ltd increased its stake in Alibaba Group by 10.0% in the 1st quarter. USS Investment Management Ltd now owns 2,373,700 shares of the specialty retailer’s stock valued at $433,105,000 after purchasing an additional 216,500 shares in the last quarter. Buckingham Capital Management Inc. increased its position in Alibaba Group by 56.2% during the first quarter. Buckingham Capital Management Inc. now owns 8,316 shares of the specialty retailer’s stock worth $1,517,000 after buying an additional 2,993 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its position in Alibaba Group by 9.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 4,520,027 shares of the specialty retailer’s stock worth $824,676,000 after buying an additional 393,477 shares in the last quarter. Marshall Wace North America L.P. increased its position in Alibaba Group by 19.5% during the first quarter. Marshall Wace North America L.P. now owns 10,936 shares of the specialty retailer’s stock worth $1,995,000 after buying an additional 1,784 shares in the last quarter. Finally, GYL Financial Synergies LLC purchased a new position in Alibaba Group during the first quarter worth $227,000. 43.43% of the stock is owned by hedge funds and other institutional investors.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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