After Morgan Stanley and Truist Financial gave Alibaba (NYSE: BABA) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Bo Pei CFA maintained a Buy rating on Alibaba today and set a price target of $320.00. The company’s shares closed last Friday at $223.31.
According to TipRanks.com, CFA is a 1-star analyst with an average return of -5.3% and a 42.3% success rate. CFA covers the Technology sector, focusing on stocks such as Tencent Music Entertainment Group, BlueCity Holdings, and Yalla Group.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alibaba with a $319.59 average price target, representing a 42.1% upside. In a report issued on April 8, Nomura also maintained a Buy rating on the stock with a $325.00 price target.
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Based on Alibaba’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $221 billion and net profit of $79.54 billion. In comparison, last year the company earned revenue of $161 billion and had a net profit of $52.17 billion.
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Alibaba Group Holding Ltd. operates online and mobile marketplaces in retail and wholesale trade. It has four business segments: Core Commerce (includes Taobao marketplace, Tmall, 1688.com, Lazada, Alibaba.com and others); Cloud Computing; Digital Media and Entertainment (includes Youko Tudou, Alibaba Pictures and other content platforms); and Innovation Initiatives and Others (includes Amap, DingTalk and Tmall Genie). The company was founded by Chung Tsai and Yun Ma on June 28, 1999 and is headquartered in Hangzhou, China.
