SunTrust Banks Lowers Alibaba Group (BABA) Price Target to $180.00

Alibaba Group (NYSE:BABA) had its price target decreased by investment analysts at SunTrust Banks from $195.00 to $180.00 in a report released on Friday, November 2nd, The Fly reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. SunTrust Banks’ target price points to a potential upside of 24.27% from the company’s previous close.

Other analysts have also issued reports about the stock. MED reduced their price target on shares of Alibaba Group to $196.00 and set a “buy” rating for the company in a research note on Thursday, August 23rd. Raymond James reduced their price target on shares of Alibaba Group from $300.00 to $280.00 and set a “strong-buy” rating for the company in a research note on Thursday, August 16th. Susquehanna Bancshares reaffirmed a “positive” rating and issued a $305.00 price target on shares of Alibaba Group in a research note on Monday, July 9th. Barclays reduced their price target on shares of Alibaba Group from $230.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, August 27th. Finally, MKM Partners dropped their target price on shares of Alibaba Group to $270.00 and set a “buy” rating on the stock in a report on Wednesday, September 12th. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $216.02.

Alibaba Group stock traded down $4.14 during midday trading on Friday, reaching $144.85. 16,213,611 shares of the stock traded hands, compared to its average volume of 24,320,056. The company has a quick ratio of 1.44, a current ratio of 1.42 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $390.58 billion, a price-to-earnings ratio of 35.94, a PEG ratio of 1.41 and a beta of 2.35. Alibaba Group has a fifty-two week low of $130.06 and a fifty-two week high of $211.70.

Alibaba Group (NYSE:BABA) last posted its earnings results on Friday, November 2nd. The specialty retailer reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.19. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $12.51 billion. Alibaba Group had a net margin of 19.33% and a return on equity of 12.99%. Alibaba Group’s revenue was up 49.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 EPS. Research analysts expect that Alibaba Group will post 3.48 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. RNC Capital Management LLC raised its stake in Alibaba Group by 16.9% during the 2nd quarter. RNC Capital Management LLC now owns 1,905 shares of the specialty retailer’s stock valued at $353,000 after purchasing an additional 275 shares during the last quarter. Private Asset Management Inc. raised its stake in Alibaba Group by 0.9% during the 2nd quarter. Private Asset Management Inc. now owns 30,193 shares of the specialty retailer’s stock valued at $5,542,000 after purchasing an additional 276 shares during the last quarter. First United Bank Trust raised its stake in Alibaba Group by 4.9% during the 2nd quarter. First United Bank Trust now owns 5,942 shares of the specialty retailer’s stock valued at $1,102,000 after purchasing an additional 280 shares during the last quarter. American National Bank raised its stake in Alibaba Group by 55.8% during the 2nd quarter. American National Bank now owns 796 shares of the specialty retailer’s stock valued at $148,000 after purchasing an additional 285 shares during the last quarter. Finally, Viridian Ria LLC raised its stake in Alibaba Group by 5.2% during the 2nd quarter. Viridian Ria LLC now owns 5,749 shares of the specialty retailer’s stock valued at $1,067,000 after purchasing an additional 285 shares during the last quarter. Institutional investors and hedge funds own 38.76% of the company’s stock.

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.

See Also: Investing strategies using the yield curve

The Fly

Analyst Recommendations for Alibaba Group (NYSE:BABA)

Receive News & Ratings for Alibaba Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply