Alibaba Group (NYSE:BABA) Price Target Cut to $176.00 by Analysts at Benchmark

Alibaba Group (NYSE:BABA - Get Free Report) had its price objective dropped by equities research analysts at Benchmark from $190.00 to $176.00 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the specialty retailer's stock. Benchmark's target price would indicate a potential upside of 41.28% from the company's previous close.

Other analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Alibaba Group from a "hold" rating to a "buy" rating in a research note on Thursday, April 3rd. Arete Research raised shares of Alibaba Group to a "strong-buy" rating in a research report on Friday, February 28th. Mizuho raised shares of Alibaba Group to a "strong-buy" rating in a report on Friday, April 18th. Sanford C. Bernstein upgraded shares of Alibaba Group from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Fourteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $150.57.

Alibaba Group Trading Up 0.5%

Shares of NYSE BABA traded up $0.68 during midday trading on Friday, reaching $124.58. 5,270,161 shares of the stock were exchanged, compared to its average volume of 20,481,170. Alibaba Group has a 52-week low of $71.80 and a 52-week high of $148.43. The stock has a 50 day moving average price of $123.70 and a 200-day moving average price of $107.05. The company has a market capitalization of $297.48 billion, a P/E ratio of 18.03, a P/E/G ratio of 0.61 and a beta of 0.24. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19.

Alibaba Group (NYSE:BABA - Get Free Report) last released 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 return on equity of 12.89% and a net margin of 12.29%. The firm had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. Equities research analysts expect that Alibaba Group will post 7.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

Several hedge funds have recently made changes to their positions in BABA. North Ridge Wealth Advisors Inc. acquired a new stake in Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC grew its position in Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 59,000 shares during the last quarter. Hazlett Burt & Watson Inc. grew its position in Alibaba Group by 1,960.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 196 shares during the last quarter. Decker Retirement Planning Inc. bought a new stake in shares of Alibaba Group during the fourth quarter worth about $31,000. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Alibaba Group during the first quarter worth about $31,000. 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.

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