Alibaba Group (NYSE:BABA) Price Target Raised to $195.00 at Bank of America

Key Points

• Bank of America has raised Alibaba Group's price target from $168.00 to $195.00, indicating a potential upside of 19.54% from its current stock price.
• Despite the positive adjustment from Bank of America, other brokerages have been mixed, with Wall Street Zen downgrading Alibaba from "buy" to "hold" while several others have maintained or raised their price targets.
• Currently, Alibaba has an average rating of "Buy" from analysts, with one Strong Buy, fourteen Buy, and one Hold rating, alongside a consensus price target of $171.50.

Alibaba Group (NYSE:BABA - Get Free Report) had its target price lifted by equities researchers at Bank of America from $168.00 to $195.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the specialty retailer's stock. Bank of America's price objective points to a potential upside of 19.54% from the stock's current price.

Several other brokerages have also recently issued reports on BABA. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Sanford C. Bernstein reiterated an "outperform" rating and set a $160.00 price objective on shares of Alibaba Group in a research note on Saturday, August 30th. Mizuho boosted their price target on shares of Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. Arete raised Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 target price for the company in a research note on Wednesday, September 3rd. Finally, Benchmark increased their price objective on Alibaba Group from $176.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Alibaba Group currently has an average rating of "Buy" and a consensus price target of $171.50.

Alibaba Group Price Performance

Shares of BABA opened at $163.12 on Wednesday. The company has a 50 day moving average of $130.96 and a two-hundred day moving average of $123.81. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group has a twelve month low of $80.06 and a twelve month high of $167.83. The company has a market cap of $388.90 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 2.02 and a beta of 0.11.

Hedge Funds Weigh In On Alibaba Group

Large investors have recently bought and sold shares of the business. 1248 Management LLC purchased a new stake in Alibaba Group during the 1st quarter worth about $26,000. North Ridge Wealth Advisors Inc. acquired a new stake in Alibaba Group during the first quarter worth approximately $26,000. Summit Securities Group LLC lifted its position in shares of Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after buying an additional 59,000 shares during the last quarter. Ransom Advisory Ltd purchased a new position in shares of Alibaba Group in the 1st quarter valued at $26,000. Finally, Hazlett Burt & Watson Inc. raised 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 worth $27,000 after acquiring an additional 196 shares in 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.

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