BABA has been the subject of several other research reports. Sanford C. Bernstein initiated coverage on shares of Alibaba Group Holding in a research note on Tuesday, August 11th.
Alibaba stock rose more than 0.61%, up at $64.46, in extended trading yesterday as at 07:58 PM EDT.
Alibaba Group Holding Ltd (NYSE: BABA)’s stock took another hit after investor-relations chief Jane Penner, speaking at a conference, appraised the investors, that considering the downturn in the Chinese economy, the gross merchandise value, a key figure for the e-commerce giant, will be mid-single digits lower than what was initially expected and will therefore impact the top line of the September quarter. Vetr cut Alibaba Group Holding from a “strong-buy” rating to a “buy” rating and set a $90.87 price objective for the company.in a research report on Monday, July 13th. Morgan Stanley reaffirmed an overweight rating and set a $99.50 price objective (down from $100.70) on shares of Alibaba Group Holding in a research note on Saturday, August 29th. The firm has a 50-day moving average of $73.82 and a 200-day moving average of $82.05. The stock has a market cap of $160.09 billion and a P/E ratio of 24.58. Eventually, Alibaba Group Holding Ltd (NYSE:BABA) hopes to nurse YunOS mobile operating as a worthy challenger to the Android and iOS domination. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.43 billion.
The ongoing evolution of the company’s stance around its home grown software system was made public by Alibaba Group Holding Ltd (NYSE:BABA) Vice Chairman of the Board Joseph Tsai as part of an interview to U.S media. The 12-month consensus target price for the stock is $93.54, which reflects an upside potential of 45.18% over the current price. Seven equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has issued a strong buy rating to the company.
Cantor Fitzgerald Analyst Youssef Squali lowered his target price on Alibaba stock from $95 to $88, whilst maintaining a Buy rating. The Company operates Taobao Marketplace, China’s online shopping destination, Tmall, China’s third-party platform for brands and retailers and Juhuasuan, China’s group buying marketplace. Wholesale and retail marketplaces available through both personal computer and mobile interfaces are provided by the Company in the PRC and internationally. The Company is mainly engaged through technology, services and products.
To view Summit Research’s full report, visit Summit Research’s official website.