Robert W. Baird Raises Alibaba Group (NYSE:BABA) Price Target to $110.00

Alibaba Group (NYSE:BABA) had its price target hoisted by Robert W. Baird from $88.00 to $110.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the specialty retailer’s stock.

Other analysts have also issued research reports about the company. Barclays increased their price objective on Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research note on Monday, October 7th. Truist Financial decreased their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Alibaba Group Stock Up 1.1 %

Alibaba Group stock opened at $97.42 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $247.20 billion, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35. Alibaba Group has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The stock’s fifty day moving average is $94.08 and its two-hundred day moving average is $83.16.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.47 earnings per share. Analysts predict that Alibaba Group will post 7.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

A number of large investors have recently modified their holdings of BABA. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Alibaba Group by 1.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,399 shares of the specialty retailer’s stock valued at $1,548,000 after buying an additional 241 shares during the period. 180 Wealth Advisors LLC raised its holdings in shares of Alibaba Group by 17.7% during the 1st quarter. 180 Wealth Advisors LLC now owns 7,609 shares of the specialty retailer’s stock valued at $551,000 after buying an additional 1,144 shares during the period. Register Financial Advisors LLC purchased a new stake in shares of Alibaba Group during the 1st quarter valued at about $31,000. Calton & Associates Inc. raised its holdings in shares of Alibaba Group by 4.8% during the 1st quarter. Calton & Associates Inc. now owns 4,263 shares of the specialty retailer’s stock valued at $308,000 after buying an additional 196 shares during the period. Finally, Viewpoint Capital Management LLC raised its holdings in shares of Alibaba Group by 40.0% during the 1st quarter. Viewpoint Capital Management LLC now owns 3,674 shares of the specialty retailer’s stock valued at $266,000 after buying an additional 1,050 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.