Alibaba Group (NYSE:BABA) Given New $150.00 Price Target at Bank of America

Alibaba Group (NYSE:BABA) had its target price upped by Bank of America from $117.00 to $150.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the specialty retailer’s stock. Bank of America‘s price objective would indicate a potential upside of 10.08% from the company’s current price.

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

Alibaba Group Stock Performance

Shares of BABA opened at $136.26 on Friday. The company’s 50 day moving average price is $94.31 and its 200 day moving average price is $92.42. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. Alibaba Group has a 52 week low of $68.36 and a 52 week high of $144.51. The company has a market capitalization of $323.74 billion, a PE ratio of 27.64, a PEG ratio of 0.53 and a beta of 0.31.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results 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 return on equity of 12.28% and a net margin of 8.98%. Research analysts expect that Alibaba Group will post 7.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

Several hedge funds have recently modified their holdings of the business. Concord Wealth Partners raised its stake in Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares during the last quarter. Decker Retirement Planning Inc. acquired a new position in shares of Alibaba Group during the fourth quarter valued at about $31,000. Sierra Ocean LLC bought a new stake in shares of Alibaba Group in the fourth quarter valued at about $32,000. Highline Wealth Partners LLC acquired a new stake in Alibaba Group during the third quarter worth about $36,000. Finally, Assetmark Inc. increased its stake in Alibaba Group by 225.4% during the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after acquiring an additional 275 shares during the period. 13.47% of the stock is owned by 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.