Zacks Report Says NYSE: BABA Is A “Hold” Right Now


Zacks Investment Research analysts recently upgraded the rating of NYSE: BABA to “Hold” from an earlier “Sell” rating in a report issued by the firm on Tuesday, March 30th.

Zacks’ report mentions that the company is currently under a growing curve. It further talks about the increase in the global demand of these core commerce companies. Alibaba Group has also been going up the ladder since the introduction of its new retail strategy. Founded on 28 June 1999 in Zhejiang, the company provides consumer-to-consumer, business-to-consumer, and business-to-business sales services via web portals, as well as shopping search engines, electronic payment services, and cloud computing services.

NYSE: BABA Detailed Stock Analysis

Alibaba Group stocks traded at $2.97 this Tuesday. The company’s current market capitalization stands at $619.29 billion. It has a positive PE ratio of 32.88 along with a beta of 0.99 at the moment. The 12-monthly high to low ranges from $319.32 to $185.04. The 50SMA (50 Days Simple Moving Average) stands at $244.91 and its 200SMA stands at $263.36.

The quarterly earnings report for the previous quarter was released on the 1st of February. The earnings stood at $22.03 EPS as opposed to the general consensus of $2.78 proposed by analysts at several research firms. The company’s return on equity stands at 12.74% along with a net margin of 22.56%. The estimated income for the firm was marked at $214.39 billion but it made $221.08 billion for the quarter. The FY2020 EPS is estimated to stand at 7.84, according to analysts.

NYSE: BABA has recently been the subject of a lot of reports by research analysts. Some such as Raymond James, Truist Securities, Sanford C. Bernstein, and so on have posted reports on this company over the last few months.

The recent consensus on this company’s stocks stands at a “Buy” rating with $321.00 as a consensus on the target price. Several hedge funds have also altered their holdings of NYSE: BABA shares recently.

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