Alibaba Group Holding Limited

Alibaba profit nearly doubles on robust revenues

For the quarter ended June 30, the NYSE-listed firm said its net income almost doubled to around US$2.58bn, while earnings per share rose by 92% to 83 USA cents. The stock uncovered monthly dynamic performance with growing progress of 3.74%. Cornerstone Advisors Inc. boosted its position in Alibaba Group Holding Limited by 1.3% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 890 shares of the specialty retailer's stock valued at $125,000 after buying an additional 200 shares during the period.

BABA has a mean analyst rating of 1.70. Institutional investors own 37.7% stake in the company while Beta factor, which is used to measure riskiness of the security, was -. Finally, Diversified Trust Co increased its stake in shares of Alibaba Group Holding Limited by 2.2% in the second quarter. Now the P/E of Alibaba Group Holding Limited (BABA) stands at 64.16. Over the same time span, the stock marked US$168 as its best level and the lowest price reached was US$86.01.

Company chares are trading at $163.92 which is impressively higher than the 50 day moving average of $151.65 and which is significantly above the 200 day moving average of $124.10.

In pre-market NY trading, Alibaba shares were over 6% higher at US$169.51. The average volume of a stock suggests the liquidity of a particular company.

Alibaba Group Holding Limited declared that its board has approved a stock repurchase plan on Thursday, May 18th that permits the company to repurchase $6.00 billion in outstanding shares.

Alibaba Group Holding Limited (NYSE:BABA) last posted its quarterly earnings results on Thursday, May 18th. The legal version of this story can be accessed at https://weekherald.com/2017/08/18/alibaba-group-holding-limited-baba-upgraded-by-zacks-investment-research-to-buy.html. Goldman Sachs maintained Alibaba Group Holding Ltd (NYSE:BABA) on Tuesday, June 21 with "Buy" rating. This buyback authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases.

Tropical Depression No. 8 Expected To Become Tropical Storm
The hurricane center said gradual strengthening is expected, and the depression should become Tropical Storm Gert later today. However, well before it reaches the east coast of the U.S.it is forecast to turn towards the northeast and move out to sea.

TRADEMARK VIOLATION WARNING: This piece of content was reported by BBNS and is the property of of BBNS. If you are accessing this article on another site, it was copied illegally and reposted in violation of US & global copyright laws. Equities analysts forecast that Alibaba Group Holding Limited will post $4.64 EPS for the current fiscal year.

Analysts' ultimate objective when projecting revenue is to determine the appropriate value for a stock. Meanwhile, Tesla Inc (NASDAQ:TSLA) drew added attention after teaming up with General Electric Company (NYSE:GE) to put solar roofs on Home Depot Inc (NYSE:HD) locations. The stock has "Buy" rating by M Partners on Wednesday, August 26.

On August 2 Barclays left the company rating at "Overweight" and moved up the price target from $107.00 to $180.00.

Harvard Management Co Inc decreased Alibaba Group Hldg Ltd (BABA) stake by 3.19% reported in 2016Q4 SEC filing.

Alibaba Group Holding (BABA) earnings this week were strong as expected, and the short-sellers who borrowed the stock on the hunch that they could sell it back at a lower price were left to lick their wounds. The company has an average rating of "Buy" and an average target price of $157.29. Through its subsidiaries, the Company is 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.

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