JPMorgan Chase & Co. Lowers Alibaba Group (NYSE:BABA) Price Target to $240.00

Alibaba Group (NYSE:BABA) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $245.00 to $240.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 51.17% from the stock’s current price.

A number of other brokerages also recently issued reports on BABA. Jefferies Financial Group raised their target price on Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Citigroup restated a “buy” rating on shares of Alibaba Group in a report on Wednesday, September 24th. Arete Research upgraded shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. UBS Group reiterated a “buy” rating and issued a $162.00 price objective on shares of Alibaba Group in a research note on Sunday, August 31st. Finally, Nomura lifted their price objective on Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Alibaba Group currently has a consensus rating of “Buy” and a consensus price target of $188.06.

Alibaba Group Trading Down 8.6%

Shares of NYSE:BABA opened at $158.76 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $378.50 billion, a PE ratio of 18.46, a PEG ratio of 2.05 and a beta of 0.18. The business has a 50 day moving average of $146.36 and a two-hundred day moving average of $127.53. Alibaba Group has a 12-month low of $80.06 and a 12-month high of $192.67.

Hedge Funds Weigh In On Alibaba Group

Several large investors have recently added to or reduced their stakes in the business. 1248 Management LLC acquired a new stake in Alibaba Group during the first quarter worth about $26,000. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group in the first quarter valued at about $26,000. Summit Securities Group LLC grew its stake in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 59,000 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in Alibaba Group during the 1st quarter valued at approximately $26,000. Finally, Hazlett Burt & Watson Inc. grew its stake in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 196 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.