Alibaba Group (NYSE:BABA) Stock Price Expected to Rise, Bank of America Analyst Says

Alibaba Group (NYSE:BABA) had its price objective raised by Bank of America from $168.00 to $195.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

BABA has been the topic of a number of other reports. Barclays raised their price target on Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, September 8th. Citigroup lifted their target price on Alibaba Group from $148.00 to $187.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Jefferies Financial Group upped their price target on Alibaba Group from $165.00 to $178.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $160.00 price objective on shares of Alibaba Group in a report on Saturday, August 30th. Finally, Susquehanna boosted their target price on shares of Alibaba Group from $175.00 to $190.00 and gave the stock a “positive” rating in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $172.81.

Alibaba Group Stock Down 2.0%

Shares of BABA stock opened at $171.88 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. Alibaba Group has a one year low of $80.06 and a one year high of $180.16. The company’s fifty day moving average price is $134.37 and its 200-day moving average price is $124.70. The company has a market capitalization of $409.77 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 2.02 and a beta of 0.11.

Institutional Investors Weigh In On Alibaba Group

A number of hedge funds have recently bought and sold shares of the business. Accent Capital Management LLC lifted its position in Alibaba Group by 5.5% in the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer’s stock valued at $209,000 after buying an additional 82 shares during the last quarter. Cary Street Partners Financial LLC increased its position in shares of Alibaba Group by 1.8% during the second quarter. Cary Street Partners Financial LLC now owns 4,757 shares of the specialty retailer’s stock valued at $539,000 after acquiring an additional 83 shares during the last quarter. Greenleaf Trust raised its stake in shares of Alibaba Group by 1.0% in the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer’s stock valued at $1,102,000 after acquiring an additional 85 shares during the period. Marcum Wealth LLC lifted its holdings in shares of Alibaba Group by 3.2% in the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer’s stock worth $363,000 after acquiring an additional 86 shares during the last quarter. Finally, Wedbush Securities Inc. lifted its holdings in shares of Alibaba Group by 2.1% in the 2nd quarter. Wedbush Securities Inc. now owns 4,237 shares of the specialty retailer’s stock worth $480,000 after acquiring an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

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.