Alibaba Group (NYSE:BABA) Trading 4.6% Higher After Analyst Upgrade

Key Points

• Alibaba Group's stock price rose 4.6% following an upgrade by Jefferies Financial Group, which raised its price target from $178.00 to $230.00 and maintains a buy rating.
• Other analysts have also increased their target prices, with Barclays setting a new target of $190.00, while Mizuho updated theirs to $159.00, indicating a favorable outlook.
• Institutional investments are on the rise, with Kingstone Capital Partners increasing their stake in Alibaba by an astonishing 1,349,768.3% in the second quarter.

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) was up 4.6% during mid-day trading on Monday after Jefferies Financial Group raised their price target on the stock from $178.00 to $230.00. Jefferies Financial Group currently has a buy rating on the stock. Alibaba Group traded as high as $181.34 and last traded at $179.89. Approximately 21,295,725 shares changed hands during trading, a decline of 2% from the average daily volume of 21,642,699 shares. The stock had previously closed at $171.91.

Several other research analysts have also weighed in on BABA. Barclays increased their target price on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an "overweight" rating in a research note on Monday, September 8th. Citigroup reiterated a "buy" rating on shares of Alibaba Group in a report on Wednesday. Mizuho lifted their price target on Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a report on Tuesday, September 2nd. Arete upgraded shares of Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price objective for the company in a research report on Wednesday, September 3rd. Finally, Susquehanna boosted their price target on shares of Alibaba Group from $175.00 to $190.00 and gave the company a "positive" rating in a research report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alibaba Group currently has an average rating of "Buy" and an average target price of $176.06.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC raised its stake in shares of Alibaba Group by 1,349,768.3% during the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer's stock worth $5,558,646,000 after purchasing an additional 49,010,087 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Alibaba Group by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 20,764,276 shares of the specialty retailer's stock worth $2,354,877,000 after buying an additional 140,579 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after buying an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Alibaba Group by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock worth $1,136,554,000 after buying an additional 2,584,480 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Alibaba Group by 85.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer's stock worth $1,131,558,000 after buying an additional 3,947,460 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Trading Up 4.6%

The business has a 50 day moving average price of $134.37 and a 200-day moving average price of $124.52. The firm has a market capitalization of $428.88 billion, a PE ratio of 20.92, a P/E/G ratio of 1.98 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.

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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