Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares traded up 2.2% during mid-day trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $170.00 to $245.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Alibaba Group traded as high as $183.08 and last traded at $182.70. 14,805,165 shares were traded during trading, a decline of 31% from the average session volume of 21,586,520 shares. The stock had previously closed at $178.73.
Other analysts have also issued research reports about the company. Benchmark raised their target price on Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Citigroup restated a "buy" rating on shares of Alibaba Group in a research note on Wednesday, September 24th. Bank of America upped their target price on shares of Alibaba Group from $168.00 to $195.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Barclays boosted their price objective on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. Finally, Jefferies Financial Group increased their target price on shares of Alibaba Group from $178.00 to $230.00 and gave the company a "buy" rating in a research note on Monday. 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 company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $180.75.
Check Out Our Latest Stock Analysis on BABA
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of BABA. 1248 Management LLC acquired a new stake in shares of Alibaba Group in the 1st quarter valued at approximately $26,000. North Ridge Wealth Advisors Inc. bought a new position in shares of Alibaba Group in the 1st quarter valued at about $26,000. Summit Securities Group LLC raised its holdings in shares of 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 purchasing an additional 59,000 shares during the period. Ransom Advisory Ltd acquired a new stake in Alibaba Group in the 1st quarter valued at about $26,000. Finally, Hazlett Burt & Watson Inc. grew its holdings in Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 196 shares during the period. 13.47% of the stock is currently owned by institutional investors.
Alibaba Group Trading Up 2.2%
The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The business has a 50-day simple moving average of $136.73 and a two-hundred day simple moving average of $125.16. The stock has a market cap of $435.57 billion, a price-to-earnings ratio of 21.24, a P/E/G ratio of 2.07 and a beta of 0.11.
Alibaba Group Company Profile
(
Get Free Report)
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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