After Barclays and MKM Partners assigned a Buy rating to Alibaba Group in the last month, the company received another Buy, this time from Wells Fargo. Analyst Ken Sena maintained a Buy rating on Alibaba Group (NYSE: BABA) today and set a price target of $230. The company’s shares opened today at $188.89.
According to TipRanks.com, Sena is a 4-star analyst with an average return of 10.2% and a 58.7% success rate. Sena covers the Services sector, focusing on stocks such as Booking Holdings Inc, Ctripcom, and Netflix.
Currently, the analyst consensus on Alibaba Group is Strong Buy and the average price target is $234.50, representing a 24.1% upside.
In a report issued on April 27, RBC Capital also reiterated a Buy rating on the stock with a $220 price target.
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Based on Alibaba Group’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $12.55 billion and quarterly net profit of $3.64 billion. In comparison, last year the company earned revenue of $5.6 billion and had a net profit of $1.55 billion.
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