Alibaba Group (NYSE:BABA) Price Target Cut to $135.00 by Analysts at Bank of America

Alibaba Group (NYSE:BABA - Get Free Report) had its price target dropped by Bank of America from $145.00 to $135.00 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the specialty retailer's stock. Bank of America's price target would suggest a potential upside of 26.50% from the stock's previous close.

Several other brokerages have also commented on BABA. Benchmark decreased their price objective on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company 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. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research report on Friday, May 16th. Arete lowered shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a research report on Tuesday, June 24th. Finally, 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. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Alibaba Group presently has an average rating of "Moderate Buy" and a consensus price target of $153.13.

Alibaba Group Stock Up 0.1%

Shares of BABA stock traded up $0.08 during mid-day trading on Friday, hitting $106.72. 10,755,903 shares of the stock traded hands, compared to its average volume of 19,997,623. The stock has a market cap of $254.66 billion, a P/E ratio of 14.32, a P/E/G ratio of 0.46 and a beta of 0.21. The stock's fifty day moving average is $118.14 and its two-hundred day moving average is $114.23. Alibaba Group has a 52-week low of $73.87 and a 52-week high of $148.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55.

Institutional Investors Weigh In On Alibaba Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC boosted its position in shares of Alibaba Group by 1,349,768.3% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer's stock valued at $5,558,646,000 after acquiring an additional 49,010,087 shares during the last quarter. Goldman Sachs Group Inc. boosted its position 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 valued at $2,069,144,000 after acquiring an additional 2,885,154 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position 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 valued at $1,136,554,000 after acquiring an additional 2,584,480 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position 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 valued at $1,131,558,000 after acquiring an additional 3,947,460 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Alibaba Group during the 4th quarter valued at about $585,479,000. Institutional investors and hedge funds own 13.47% of the company's stock.

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.