After KeyBanc and TH Data Capital gave Alibaba (NYSE: BABA) a Buy rating last month, the company received another Buy, this time from Barclays. Analyst Gregory Zhao maintained a Buy rating on Alibaba yesterday and set a price target of $225. The company’s shares opened today at $163.43.
According to TipRanks.com, Zhao is a 1-star analyst with an average return of -1.9% and a 40.0% success rate. Zhao covers the Technology sector, focusing on stocks such as NetEase Inc, Tencent, and Baidu.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alibaba with a $216.56 average price target, a 32.5% upside from current levels. In a report issued on May 7, KeyBanc also maintained a Buy rating on the stock with a $240 price target.
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Based on Alibaba’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $4.78 billion. In comparison, last year the company had a net profit of $1.19 billion.
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