JPMorgan Chase & Co. Issues Positive Forecast for Alibaba Group (NYSE:BABA) Stock Price

Alibaba Group (NYSE:BABA) had its price objective lifted by JPMorgan Chase & Co. from $125.00 to $170.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the specialty retailer’s stock.

Several other equities analysts also recently weighed in on BABA. Bank of America boosted their target price on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday. Barclays increased their target price 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 lifted their price target on shares of Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Mizuho increased their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Benchmark restated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.93.

Alibaba Group Stock Performance

NYSE:BABA opened at $143.67 on Friday. The stock has a 50-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. The stock has a market capitalization of $341.36 billion, a P/E ratio of 29.14, a P/E/G ratio of 0.53 and a beta of 0.31.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BABA. Concord Wealth Partners boosted its stake in shares of Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in Alibaba Group during the 4th quarter valued at $31,000. Sierra Ocean LLC purchased a new position in shares of Alibaba Group in the 4th quarter valued at $32,000. Highline Wealth Partners LLC purchased a new position in shares of Alibaba Group in the 3rd quarter valued at $36,000. Finally, Assetmark Inc. raised its position in shares of Alibaba Group by 225.4% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

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.