Alibaba Group (NYSE:BABA) Price Target Raised to $150.00 at Bank of America

Alibaba Group (NYSE:BABA) had its price objective lifted by equities researchers at Bank of America from $117.00 to $150.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Bank of America‘s price target indicates a potential upside of 10.08% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Barclays decreased their price objective on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Robert W. Baird boosted their price objective on Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup increased their target price on Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Benchmark reiterated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a report on Friday, November 15th. Finally, StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.36.

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $136.26 on Friday. The company has a market cap of $323.74 billion, a P/E ratio of 27.64, a P/E/G ratio of 0.53 and a beta of 0.31. Alibaba Group has a 52 week low of $68.36 and a 52 week high of $144.51. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $94.31 and a 200-day simple moving average of $92.42.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. Equities research analysts forecast that Alibaba Group will post 7.86 EPS for the current year.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently modified their holdings of BABA. Concord Wealth Partners boosted its holdings in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares during the period. Decker Retirement Planning Inc. purchased a new stake in shares of Alibaba Group in the 4th quarter valued at approximately $31,000. Sierra Ocean LLC purchased a new stake in shares of Alibaba Group in the 4th quarter valued at approximately $32,000. Highline Wealth Partners LLC acquired a new position in Alibaba Group in the 3rd quarter worth approximately $36,000. Finally, Assetmark Inc. grew its position in Alibaba Group by 225.4% during the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 275 shares in the last quarter. Institutional investors and hedge funds 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.