Alibaba Group Holding Ltd (BABA) was Upgraded by Raymond James to ” Strong Buy”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on Aug 12, 2016.
Many Wall Street Analysts have commented on Alibaba Group Holding Ltd. Company shares were Reiterated by T.H. Capital on Aug 9, 2016 to “Buy”, Firm has raised the Price Target to $ 97 from a previous price target of $84 .Alibaba Group Holding Ltd was Downgraded by Standpoint Research to ” Hold” on Aug 1, 2016. Alibaba Group Holding Ltd was Resumed by Credit Suisse to “Outperform” on Jul 21, 2016.
On the company’s financial health, Alibaba Group Holding Ltd reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Aug 11, 2016. Analyst had a consensus of $0.63. The company had revenue of $4838.00 million for the quarter, compared to analysts expectations of $4567.45 million. During the same quarter in the previous year, the company posted $0.59 EPS.
Alibaba Group Holding Ltd opened for trading at $84.99 and hit $85.02 on the upside on Monday, eventually ending the session at $85, with a gain of 0.48% or 0.41 points. The heightened volatility saw the trading volume jump to 1,15,28,244 shares. Company has a market cap of $210,284 M.
Alibaba Group Holding Limited is a holding company. The Company is principally engaged in online and mobile commerce through products services and technology. The Company provides retail and wholesale marketplaces available through both personal computer and mobile interfaces in the PRC and internationally. Retail marketplaces and services operated by the Company include the China online shopping destination (Taobao Marketplace); the China brands and retail platform (Tmall); the China group buying site that offers products by aggregating demand from consumers through limited time discounted sales (Juhuasuan) and the global consumer marketplace targeting consumers around the world (AliExpress). Wholesale marketplaces operated by the Company include the online China wholesale marketplace (1688.com) and the online business-to-business marketplace that focuses on global trade among businesses from around the world (Alibaba.com).