Alibaba Group Holding Limited (NYSE:BABA) Receives $168.81 Average Price Target from Brokerages

Key Points

• Alibaba Group Holding Limited has received an average analyst rating of "Buy" from 16 research firms, with a consensus target price of $168.81.
• Recently, several analysts have increased their price targets for Alibaba, with Bank of America setting it at $152 and Citigroup at $187.
• As of the latest data, Alibaba's shares opened at $162.78 and have shown a market capitalization of $388.08 billion.

Shares of Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) have been given a consensus recommendation of "Buy" by the sixteen brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $168.8125.

Several analysts recently issued reports on BABA shares. UBS Group reissued a "buy" rating and set a $162.00 target price on shares of Alibaba Group in a research note on Sunday, August 31st. Mizuho raised their price target on Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Sanford C. Bernstein restated an "outperform" rating and set a $160.00 price target on shares of Alibaba Group in a report on Saturday, August 30th. Finally, Robert W. Baird raised their price target on Alibaba Group from $142.00 to $153.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd.

Alibaba Group Stock Performance

NYSE BABA traded up $1.22 on Friday, reaching $164.03. 13,045,467 shares of the stock were exchanged, compared to its average volume of 21,495,543. Alibaba Group has a one year low of $80.06 and a one year high of $167.44. The firm has a market capitalization of $391.05 billion, a PE ratio of 19.08, a PEG ratio of 2.00 and a beta of 0.11. The company's 50-day simple moving average is $128.92 and its two-hundred day simple moving average is $123.37. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19.

Hedge Funds Weigh In On Alibaba Group

A number of large investors have recently bought and sold shares of the business. Canal Capital Management LLC boosted its holdings in Alibaba Group by 4.2% during the 2nd quarter. Canal Capital Management LLC now owns 40,901 shares of the specialty retailer's stock valued at $4,639,000 after acquiring an additional 1,650 shares during the period. Centaurus Financial Inc. lifted its holdings in shares of Alibaba Group by 4.7% in the 2nd quarter. Centaurus Financial Inc. now owns 2,103 shares of the specialty retailer's stock worth $238,000 after buying an additional 94 shares during the period. Infini Capital Management Ltd lifted its holdings in shares of Alibaba Group by 1,215,800.0% in the 2nd quarter. Infini Capital Management Ltd now owns 303,975 shares of the specialty retailer's stock worth $34,474,000 after buying an additional 303,950 shares during the period. Orion Porfolio Solutions LLC lifted its holdings in shares of Alibaba Group by 3.9% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 33,111 shares of the specialty retailer's stock worth $3,755,000 after buying an additional 1,239 shares during the period. Finally, Marex Group plc purchased a new stake in shares of Alibaba Group in the 2nd quarter worth $17,139,000. 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.