Alibaba Group (NYSE:BABA) Given New $190.00 Price Target at Benchmark

Alibaba Group (NYSE:BABA) had its price target lifted by Benchmark from $118.00 to $190.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the specialty retailer’s stock.

Several other brokerages have also commented on BABA. Barclays increased their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup increased their target price on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Bank of America boosted their price target on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. boosted their target price on Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and an average target price of $131.93.

Alibaba Group Stock Performance

Shares of BABA stock opened at $143.67 on Friday. The company has a market cap of $341.36 billion, a P/E ratio of 29.14, a PEG ratio of 0.53 and a beta of 0.31. The firm has a fifty day moving average price of $95.43 and a 200 day moving average price of $92.88. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. Alibaba Group has a 12 month low of $68.36 and a 12 month high of $145.30.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business had revenue of $38.38 billion for the quarter, compared to analysts’ expectations of $38.19 billion. Sell-side analysts predict that Alibaba Group will post 7.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

A number of large investors have recently modified their holdings of BABA. Foundations Investment Advisors LLC increased its holdings in Alibaba Group by 21.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 155,440 shares of the specialty retailer’s stock valued at $13,180,000 after buying an additional 27,088 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Alibaba Group by 131.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 74,807 shares of the specialty retailer’s stock valued at $6,343,000 after acquiring an additional 42,446 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its position in Alibaba Group by 63.9% during the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock worth $3,047,000 after acquiring an additional 11,192 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Alibaba Group by 7,734.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock valued at $28,632,000 after purchasing an additional 266,361 shares in the last quarter. Finally, Aspex Management HK Ltd acquired a new stake in shares of Alibaba Group in the third quarter valued at approximately $115,995,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.