JPMorgan Chase & Co. Increases Alibaba Group (NYSE:BABA) Price Target to $108.00

Alibaba Group (NYSE:BABA) had its price target raised by JPMorgan Chase & Co. from $100.00 to $108.00 in a report released on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty retailer’s stock.

Other equities analysts have also recently issued reports about the company. Barclays decreased their price target on Alibaba Group from $109.00 to $107.00 and set an overweight rating on the stock in a research note on Thursday, May 16th. Mizuho decreased their price target on Alibaba Group from $95.00 to $92.00 and set a buy rating on the stock in a research note on Wednesday, May 15th. Jefferies Financial Group reaffirmed a buy rating and issued a $116.00 price target on shares of Alibaba Group in a research note on Friday, July 26th. Loop Capital lifted their price target on Alibaba Group from $111.00 to $115.00 and gave the stock a buy rating in a research note on Thursday, June 6th. Finally, Truist Financial reduced their target price on Alibaba Group from $113.00 to $110.00 and set a buy rating on the stock in a research note on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $107.61.

Alibaba Group Stock Performance

Shares of NYSE BABA opened at $83.18 on Friday. The stock has a market cap of $211.07 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 0.48 and a beta of 0.32. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.13. Alibaba Group has a 1-year low of $66.63 and a 1-year high of $96.68. The stock’s 50-day moving average is $76.63 and its 200 day moving average is $75.99.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The company had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. Alibaba Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $2.47 EPS. On average, sell-side analysts anticipate that Alibaba Group will post 6.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BABA. First Command Advisory Services Inc. purchased a new stake in Alibaba Group during the second quarter valued at $25,000. GPS Wealth Strategies Group LLC increased its position in Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 209 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in Alibaba Group during the fourth quarter valued at $26,000. Register Financial Advisors LLC purchased a new stake in Alibaba Group during the first quarter valued at $31,000. Finally, Asset Dedication LLC increased its position in Alibaba Group by 315.0% during the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 400 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.