Alibaba Group (NYSE:BABA) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Key Points

• Jefferies Financial Group raised Alibaba Group's price target from $165.00 to $178.00, suggesting a potential upside of 20.97% from the previous closing price.
• Benchmark also increased their price target for Alibaba from $176.00 to $195.00, indicating strong positive sentiment among analysts towards the stock.
• The current consensus rating for Alibaba Group is a Buy from multiple analysts, with an average target price of $167.40.

Alibaba Group (NYSE:BABA - Get Free Report) had its price target upped by equities researchers at Jefferies Financial Group from $165.00 to $178.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the specialty retailer's stock. Jefferies Financial Group's price target points to a potential upside of 20.97% from the company's previous close.

Several other equities research analysts have also commented on the stock. Benchmark boosted their price objective on shares of Alibaba Group from $176.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Sanford C. Bernstein reiterated an "outperform" rating and set a $160.00 price target on shares of Alibaba Group in a report on Saturday, August 30th. Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Loop Capital set a $176.00 price objective on shares of Alibaba Group in a report on Friday, May 16th. Finally, Mizuho boosted their price objective on shares of Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $167.40.

Alibaba Group Trading Up 4.2%

Shares of BABA opened at $147.15 on Wednesday. The firm's 50-day moving average price is $120.81 and its 200-day moving average price is $122.15. The firm has a market capitalization of $350.84 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 1.97 and a beta of 0.11. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group has a 1-year low of $80.06 and a 1-year high of $148.43.

Hedge Funds Weigh In On Alibaba Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Accent Capital Management LLC grew its stake in shares of Alibaba Group by 5.5% in the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock worth $209,000 after buying an additional 82 shares in the last quarter. Cary Street Partners Financial LLC grew its stake in shares of Alibaba Group by 1.8% in the 2nd quarter. Cary Street Partners Financial LLC now owns 4,757 shares of the specialty retailer's stock worth $539,000 after buying an additional 83 shares in the last quarter. Greenleaf Trust grew its stake in shares of Alibaba Group by 1.0% in the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock worth $1,102,000 after buying an additional 85 shares in the last quarter. Marcum Wealth LLC boosted its stake in shares of Alibaba Group by 3.2% during the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock worth $363,000 after purchasing an additional 86 shares during the period. Finally, Wedbush Securities Inc. grew its holdings in Alibaba Group by 2.1% during the 2nd quarter. Wedbush Securities Inc. now owns 4,237 shares of the specialty retailer's stock valued at $480,000 after purchasing an additional 88 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

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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