Alibaba Group (NYSE:BABA) Price Target Raised to $152.00 at Bank of America

Key Points

• Bank of America has raised its price target for Alibaba Group stock from $135 to $152, indicating a potential upside of 12.50% from the previous close.
• The average rating for Alibaba's stock is currently a "Moderate Buy," with twelve analysts rating it as a Buy, while two analysts have issued a Hold rating.
• Alibaba Group's stock has recently experienced a 13.0% increase, reflecting positive investor sentiment and trading activities.

Alibaba Group (NYSE:BABA - Free Report) had its price objective hoisted by Bank of America from $135.00 to $152.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the specialty retailer's stock.

BABA has been the topic of a number of other research reports. Barclays cut their price target on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. Loop Capital set a $176.00 price objective on shares of Alibaba Group in a research note on Friday, May 16th. Robert W. Baird cut their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Jefferies Financial Group set a $165.00 price objective on shares of Alibaba Group and gave the stock a "buy" rating in a research note on Friday, August 29th. Finally, Benchmark reiterated a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $163.53.

Alibaba Group Stock Up 3.5%

Shares of NYSE:BABA traded up $4.57 during trading hours on Tuesday, hitting $135.49. The company's stock had a trading volume of 19,166,179 shares, compared to its average volume of 17,007,000. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.55. The company has a market capitalization of $323.03 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 1.83 and a beta of 0.11. The firm's fifty day moving average price is $119.59 and its 200 day moving average price is $122.11. Alibaba Group has a 52 week low of $80.06 and a 52 week high of $148.43.

Institutional Trading of Alibaba Group

A number of hedge funds have recently added to or reduced their stakes in the company. Centaurus Financial Inc. boosted its holdings in Alibaba Group by 4.7% during the second quarter. Centaurus Financial Inc. now owns 2,103 shares of the specialty retailer's stock worth $238,000 after buying an additional 94 shares in the last quarter. Infini Capital Management Ltd boosted its holdings in Alibaba Group by 1,215,800.0% during the second quarter. Infini Capital Management Ltd now owns 303,975 shares of the specialty retailer's stock worth $34,474,000 after buying an additional 303,950 shares in the last quarter. Orion Porfolio Solutions LLC boosted its holdings in Alibaba Group by 3.9% during the second quarter. Orion Porfolio Solutions LLC now owns 33,111 shares of the specialty retailer's stock worth $3,755,000 after buying an additional 1,239 shares in the last quarter. Marex Group plc purchased a new stake in Alibaba Group during the second quarter worth $17,139,000. Finally, Advisory Services Network LLC lifted its holdings in Alibaba Group by 2.2% during the second quarter. Advisory Services Network LLC now owns 18,746 shares of the specialty retailer's stock valued at $2,261,000 after purchasing an additional 399 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Company Profile

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.