In the market the company is trading up from yesterday’s close of $145.81. Company chares are trading at $148.32 a tad above the 50 day moving average of $130.83 and a bit higher than the 200 day moving average of $110.09. The 50 day moving average moved up $17.63 and the 200 day average went up by +34.848%.
Alibaba Group Holding Limited, launched on June 28, 1999, is a holding company. Through its subsidiaries, the Company is principally engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally. The Company?s businesses consist of core commerce, cloud computing, mobile media and entertainment, and other innovation initiatives. Through investee affiliates, it also participates in the logistics and local services sectors. Retail commerce in China operated by the Company includes the China online commerce destination (Taobao Marketplace); the China third-party platform for brands and retailers (Tmall), and the sales and marketing platform for flash sales (Juhuasuan). Wholesale commerce in China operated by the Company includes the China domestic wholesale marketplace (1688.com). International and cross-border commerce operated by the Company includes the global marketplace targeting consumers from around the world to buy directly from manufacturers and distributors in China (AliExpress); a platform within the Tmall for overseas brands and retailers to reach Chinese consumers without the need for physical operations in China (Tmall Global), and the wholesale marketplace for global trade (Alibaba.com)..
Here are a few additional firms who have increased or decreased their stake in (BABA). Vontobel Asset Management Inc downsized its stake by selling 118,982 shares a decrease of 1.1% from 03/31/2017 to 06/30/2017. Vontobel Asset Management Inc now holds 10,513,778 shares valued at $1,505,700,000. The total value of its holdings increased 28.7%. Newport Asia LLC trimmed its holdings by shedding 21,600 shares a decrease of 1.9% as of 06/30/2017. Newport Asia LLC claims 1,128,300 shares with a value of $158,977,000. The value of the position overall is up by 27.1%.
Narwhal Capital Management reduced its ownership by shedding 550 shares a decrease of 14.7% in the quarter. Narwhal Capital Management currently owns 3,200 shares worth $451,000. The total value of its holdings increased 11.6%. As of the end of the quarter Pennsylvania Trust Co had disposed of 30 shares trimming its holdings by 1.2%. The value of the investment in Alibaba Group Holding Limited A went from $280,000 to $361,000 a change of 28.9% for the reporting period.
On November 3 Brean Capital maintained a stock rating of “Buy” and lowered the price expectation to $115.00 from $120.00. November 3 investment analysts at Jefferies made no change to the company rating of “Buy” and lowered the price target from $120.00 to $119.00.
On October 27 Citigroup held the company rating at “Buy” but moved up the price target to $133.00 from $120.00. On September 29 Deutsche Bank left the company rating at “Buy” and moved up the price target to $125.00 from $120.00.
On August 31, 2016 JP Morgan added BABA to its research portfolio setting a rating of “Overweight”. Equity analyst Macquarie both upgraded the stock and raised the price target on August 12 changing the price target from $92.00 to $120.00 and setting the rating at “Buy” which had previously been “Neutral”.
The company currently has a P/E ratio of 59.382 and the market value is 375.59B. As of the last earnings report the EPS was $2.50 and is projected to be $4.54 for the current year with 2,530,000,000 shares now outstanding. Analysts expect next quarter’s EPS will be $0.96 and the next full year EPS is anticipated to be $6.05.