Alibaba Group (NYSE:BABA) Given New $187.00 Price Target at Citigroup

Key Points

• Citigroup raised its price target for Alibaba Group from $148.00 to $187.00, suggesting a potential upside of 36.85% from the company's previous close.
• A consensus rating for Alibaba Group is currently "Moderate Buy" with a price target average of $164.62, reflected by 12 analysts rating it as a Buy.
• Shares of Alibaba Group traded up 1.2% to $136.64, with a market cap of $325.79 billion and a price-to-earnings ratio of 15.89.

Alibaba Group (NYSE:BABA - Get Free Report) had its price objective hoisted by Citigroup from $148.00 to $187.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the specialty retailer's stock. Citigroup's price objective would suggest a potential upside of 36.85% from the company's previous close.

A number of other brokerages also recently issued reports on BABA. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Bank of America boosted their price target on shares of Alibaba Group from $135.00 to $152.00 and gave the stock a "buy" rating in a research report on Tuesday. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research report on Friday, May 16th. Robert W. Baird lifted their price objective on shares of Alibaba Group from $142.00 to $153.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, UBS Group reiterated a "buy" rating on shares of Alibaba Group in a research note on Sunday. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.62.

Alibaba Group Trading Up 1.2%

Shares of NYSE BABA traded up $1.64 during midday trading on Tuesday, reaching $136.64. The stock had a trading volume of 23,863,187 shares, compared to its average volume of 21,161,889. The firm has a market cap of $325.79 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 1.99 and a beta of 0.11. Alibaba Group has a twelve month low of $80.06 and a twelve month high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The company's 50 day moving average price is $117.95 and its 200 day moving average price is $121.80.

Institutional Trading of Alibaba Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. 1248 Management LLC bought a new stake in Alibaba Group during the 1st quarter valued at $26,000. North Ridge Wealth Advisors Inc. bought a new stake in Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC increased its stake in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 59,000 shares in the last quarter. Ransom Advisory Ltd bought a new stake in Alibaba Group during the 1st quarter valued at $26,000. Finally, Hazlett Burt & Watson Inc. increased its stake in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 196 shares in the last quarter. 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.

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