Alibaba (BABA) Gets a Buy Rating from Oppenheimer

Oppenheimer analyst Jason Helfstein maintained a Buy rating on Alibaba (BABAResearch Report) yesterday and set a price target of $260.00. The company’s shares closed last Monday at $217.03.

According to TipRanks.com, Helfstein is a top 25 analyst with an average return of 24.4% and a 71.7% success rate. Helfstein covers the Technology sector, focusing on stocks such as Spotify Technology SA, Fiverr International, and IAC/InterActiveCorp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alibaba with a $255.35 average price target, a 19.3% upside from current levels. In a report issued on June 9, Mizuho Securities also reiterated a Buy rating on the stock with a $260.00 price target.

See today’s analyst top recommended stocks >>

Alibaba’s market cap is currently $583.9B and has a P/E ratio of 27.00. The company has a Price to Book ratio of 9.79.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Alibaba Group Holding Ltd. engages in providing online and mobile marketplaces in retail and wholesale trade. It operates through the following business segments: Core Commerce; Cloud Computing; Digital Media and Entertainment; and Innovation Initiatives and Others. The Core Commerce segment comprises of platforms operating in retail and wholesale. The Cloud Computing segment consists of Alibaba Cloud, which offers elastic computing, database, storage and content delivery network, large scale computing, security, management and application, big data analytics, a machine learning platform, and other services provide for enterprises of different sizes across various industries. The Digital Media and Entertainment segment relates to the Youko Tudou and UC Browser business. The Innovation Initiatives and Others segment includes businesses such as AutoNavi, DingTalk, Tmall Genie, and others. The company was founded by Chung Tsai and Yun Ma on June 28, 1999 and is headquartered in Hangzhou, China.