Bank of America Issues Positive Forecast for Alibaba Group (NYSE:BABA) Stock Price

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 - Get Free Report) had its price target boosted by stock analysts at Bank of America from $135.00 to $152.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the specialty retailer's stock. Bank of America's price target would indicate a potential upside of 12.50% from the company's previous close.

Several other research analysts have also weighed in on BABA. Robert W. Baird dropped 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. Benchmark reiterated a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Loop Capital set a $176.00 price objective on shares of Alibaba Group in a research note on Friday, May 16th. Mizuho dropped their price target on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Finally, Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $160.92.

Alibaba Group Stock Up 13.0%

Alibaba Group stock opened at $135.11 on Tuesday. The firm has a market cap of $322.14 billion, a PE ratio of 15.71, a P/E/G ratio of 1.99 and a beta of 0.11. 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 firm's 50 day moving average price is $117.95 and its two-hundred day moving average price is $121.80. Alibaba Group has a twelve month low of $80.06 and a twelve month high of $148.43.

Institutional Trading of Alibaba Group

Several large investors have recently modified their holdings of the company. Centaurus Financial Inc. boosted its holdings in shares of Alibaba Group by 4.7% during the 2nd quarter. Centaurus Financial Inc. now owns 2,103 shares of the specialty retailer's stock worth $238,000 after buying an additional 94 shares during the period. Infini Capital Management Ltd boosted its holdings in shares of Alibaba Group by 1,215,800.0% during the 2nd 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 during the period. Orion Porfolio Solutions LLC boosted its holdings in shares of Alibaba Group by 3.9% during the 2nd 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 during the period. Marex Group plc bought a new stake in shares of Alibaba Group during the 2nd quarter worth $17,139,000. Finally, Advisory Services Network LLC boosted its holdings in shares of Alibaba Group by 2.2% during the 2nd quarter. Advisory Services Network LLC now owns 18,746 shares of the specialty retailer's stock worth $2,261,000 after buying an additional 399 shares during the period. 13.47% of the stock is owned by 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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