Alibaba (BABA – Get Report) is scheduled to report its financial results for the fiscal 2016 second quarter before the market open on Tuesday. The company has a market cap of $190.31 billion.
Advertisement
TH Capital upgraded shares of Alibaba Group Holding (NYSE:BABA) from a hold rating to a buy rating in a report issued on Friday, The Fly reports.
Alibaba Group Holding Ltd (NYSE:BABA) is at $75.53 and still declining with the percentage of -0.17% right now.
Summit Research reiterated a Buy rating with an $81 price target. The higher price target estimate for the stock has been calculated at $100 while the lower price target estimate is at $75. Bernstein maintained its bullish stance on the stock, expecting investors to see year-over-year increase in the company’s China retail marketplaces on blended monetization rate, resulting in revenues growing faster than gross merchandise volume (GMV). The business earned $3.27 billion during the quarter, compared to analyst estimates of $3.43 billion. Cantor Fitzgerald reissued a “buy” rating and issued a $110.00 target price on shares of Alibaba Group Holding in a research note on Friday, June 26th.
Out of the 51 analysts polled by Bloomberg, 44 rate Alibaba Group Holding stock a Buy, 5 rate it a Hold, while the rest rate it a Sell.
Alibaba Group Holding Ltd (NYSE:BABA) has declined 10.24% since March 23, 2015 and is downtrending. Finally, CLSA reaffirmed a buy rating on shares of Alibaba Group Holding in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $93.70.
Jack Massachusetts, Chairman, helped the company pull off a record IPO, and Alibaba climbed to the top of the Chinese market.
Based in Hangzhou, Alibaba is engaged in online and mobile commerce through products, services and technology. The Company operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online business-to-business marketplace; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.
Advertisement
Beijing is hoping that private consumption will pick up the slack as exports fall and it tries to rebalance the economy – now heading for its slowest full-year growth in 25 years – away from a reliance on trade and government spending.
