JPMorgan Chase & Co. Cuts Alibaba Group (NYSE:BABA) Price Target to $230.00

Alibaba Group (NYSE:BABA) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from $240.00 to $230.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 44.69% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Benchmark restated a “buy” rating and issued a $195.00 price target on shares of Alibaba Group in a research note on Tuesday. Robert W. Baird boosted their target price on Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Erste Group Bank upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Arete raised Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 target price on the stock in a research note on Wednesday, September 3rd. Finally, CLSA upped their price target on shares of Alibaba Group from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $189.89.

Alibaba Group Stock Up 1.2%

BABA traded up $1.95 during trading on Wednesday, hitting $158.96. The company had a trading volume of 8,985,801 shares, compared to its average volume of 20,605,014. 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 1-year low of $80.06 and a 1-year high of $192.67. The business has a 50-day moving average of $168.67 and a 200-day moving average of $138.36. The company has a market cap of $379.29 billion, a PE ratio of 18.48, a P/E/G ratio of 2.40 and a beta of 0.19.

Hedge Funds Weigh In On Alibaba Group

A number of large investors have recently modified their holdings of the stock. Traphagen Investment Advisors LLC grew its holdings in shares of Alibaba Group by 2.0% in the 3rd quarter. Traphagen Investment Advisors LLC now owns 3,018 shares of the specialty retailer’s stock valued at $539,000 after acquiring an additional 59 shares in the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of Alibaba Group by 26.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 302 shares of the specialty retailer’s stock worth $54,000 after buying an additional 63 shares during the last quarter. Bluesphere Advisors LLC grew its position in shares of Alibaba Group by 2.2% in the third quarter. Bluesphere Advisors LLC now owns 3,023 shares of the specialty retailer’s stock valued at $540,000 after purchasing an additional 64 shares during the last quarter. Richardson Financial Services Inc. increased its position in Alibaba Group by 34.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock worth $45,000 after buying an additional 65 shares during the period. Finally, Transcend Capital Advisors LLC boosted its holdings in Alibaba Group by 1.0% in the 3rd quarter. Transcend Capital Advisors LLC now owns 6,661 shares of the specialty retailer’s stock valued at $1,191,000 after purchasing an additional 66 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Company Profile

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.