Alibaba Group (NYSE:BABA) Stock Price Up 1.1% After Analyst Upgrade

Key Points

• Alibaba Group's stock price increased by 1.1% after Benchmark raised its price target from $176.00 to $195.00 and maintained a buy rating on the stock.
• Institutional investors have been active, with several acquiring new stakes in Alibaba Group, indicating growing interest, although they currently own only 13.47% of the company.
• The consensus price target for Alibaba Group among analysts is $162.38, with the majority rating the stock as a Buy.

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares shot up 1.1% during mid-day trading on Tuesday after Benchmark raised their price target on the stock from $176.00 to $195.00. Benchmark currently has a buy rating on the stock. Alibaba Group traded as high as $138.44 and last traded at $136.49. 19,981,279 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 21,148,422 shares. The stock had previously closed at $135.00.

BABA has been the topic of a number of other reports. Jefferies Financial Group set a $165.00 target price on shares of Alibaba Group and gave the stock a "buy" rating in a report on Friday. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research report on Friday, May 16th. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a research report on Wednesday, May 14th. Barclays lowered their price target on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Finally, Bank of America upped 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. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $162.38.

Hedge Funds Weigh In On Alibaba Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. North Ridge Wealth Advisors Inc. acquired a new stake in Alibaba Group in the 1st quarter valued at about $26,000. Summit Securities Group LLC lifted its holdings in Alibaba Group by 100.3% in the 1st 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. Ransom Advisory Ltd acquired a new stake in Alibaba Group in the 1st quarter valued at about $26,000. 1248 Management LLC acquired a new stake in Alibaba Group in the 1st quarter valued at about $26,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in Alibaba Group in the 2nd quarter valued at about $26,000. Institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Up 1.1%

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 has a market capitalization of $325.43 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 1.99 and a beta of 0.11. The stock's fifty day simple moving average is $117.95 and its two-hundred day simple moving average is $121.80.

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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