Fintel reports that on June 27, 2023, Bernstein downgraded their outlook for Alibaba Group Holding Ltd – ADR (NYSE:BABA) from Outperform to Market Perform.
Analyst Price Forecast Suggests 66.89% Upside
As of June 2, 2023, the average one-year price target for Alibaba Group Holding Ltd – ADR is 142.64. The forecasts range from a low of 92.92 to a high of $190.05. The average price target represents an increase of 66.89% from its latest reported closing price of 85.47.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Alibaba Group Holding Ltd – ADR is 991,825MM, an increase of 14.18%. The projected annual non-GAAP EPS is 62.78.
What is the Fund Sentiment?
There are 1703 funds or institutions reporting positions in Alibaba Group Holding Ltd – ADR. This is an increase of 96 owner(s) or 5.97% in the last quarter. Average portfolio weight of all funds dedicated to BABA is 1.24%, an increase of 26.90%. Total shares owned by institutions decreased in the last three months by 8.02% to 452,570K shares. The put/call ratio of BABA is 0.48, indicating a bullish outlook.
What are Other Shareholders Doing?
Primecap Management holds 17,283K shares representing 0.67% ownership of the company. In it’s prior filing, the firm reported owning 17,279K shares, representing an increase of 0.03%. The firm increased its portfolio allocation in BABA by 10.51% over the last quarter.
Dodge & Cox holds 12,634K shares representing 0.49% ownership of the company. In it’s prior filing, the firm reported owning 13,979K shares, representing a decrease of 10.65%. The firm increased its portfolio allocation in BABA by 4.17% over the last quarter.
Price T Rowe Associates holds 11,034K shares representing 0.43% ownership of the company. In it’s prior filing, the firm reported owning 7,910K shares, representing an increase of 28.31%. The firm increased its portfolio allocation in BABA by 50.58% over the last quarter.
FIL holds 10,671K shares representing 0.42% ownership of the company. In it’s prior filing, the firm reported owning 10,889K shares, representing a decrease of 2.04%. The firm decreased its portfolio allocation in BABA by 38.37% over the last quarter.
VPMCX – Vanguard PRIMECAP Fund Investor Shares holds 9,903K shares representing 0.39% ownership of the company. In it’s prior filing, the firm reported owning 9,933K shares, representing a decrease of 0.30%. The firm increased its portfolio allocation in BABA by 9.15% over the last quarter.
Alibaba Group Holding Background Information
(This description is provided by the company.)
Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a good company that lasts for 102 years.
This article originally appeared on Fintel
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