CLSA Issues Positive Forecast for Alibaba Group (NYSE:BABA) Stock Price

Key Points

• CLSA has increased Alibaba Group's stock price target from $155.00 to $200.00, indicating a potential upside of 5.06% from its previous close and maintaining an "outperform" rating.
• Other analysts have also shown optimism, with Mizuho raising their target to $159.00 and UBS retaining a buy rating with a target of $162.00, contributing to a consensus price target of $181.88.
• Alibaba Group's stock traded up 4.1% to $190.36, with over 9.3 million shares exchanged, reflecting positive market interest amidst recent institutional investments.

Alibaba Group (NYSE:BABA - Get Free Report) had its price objective upped by research analysts at CLSA from $155.00 to $200.00 in a report released on Thursday,Briefing.com Automated Import reports. The firm currently has an "outperform" rating on the specialty retailer's stock. CLSA's price objective suggests a potential upside of 5.06% from the stock's previous close.

A number of other analysts also recently weighed in on BABA. Mizuho increased their price objective on shares of Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. Citigroup reissued a "buy" rating on shares of Alibaba Group in a research report on Wednesday, September 24th. Zacks Research raised shares of Alibaba Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 9th. UBS Group reissued a "buy" rating and set a $162.00 price objective on shares of Alibaba Group in a research report on Sunday, August 31st. Finally, Sanford C. Bernstein reissued an "outperform" rating and set a $160.00 price objective on shares of Alibaba Group in a research report on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Alibaba Group has an average rating of "Buy" and a consensus price target of $181.88.

Alibaba Group Trading Up 4.1%

Alibaba Group stock traded up $7.58 during trading hours on Thursday, reaching $190.36. 9,347,433 shares of the company's stock were exchanged, compared to its average volume of 21,520,230. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm's 50 day simple moving average is $137.93 and its 200 day simple moving average is $125.56. Alibaba Group has a twelve month low of $80.06 and a twelve month high of $192.67. The firm has a market capitalization of $453.83 billion, a PE ratio of 22.21, a PEG ratio of 2.06 and a beta of 0.18.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. North Ridge Wealth Advisors Inc. purchased a new position in Alibaba Group in the 1st quarter valued at approximately $26,000. Summit Securities Group LLC grew its stake in 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 buying an additional 59,000 shares in the last quarter. Ransom Advisory Ltd bought a new position in Alibaba Group in the 1st quarter valued at $26,000. 1248 Management LLC bought a new position in Alibaba Group in the 1st quarter valued at $26,000. Finally, Rosenberg Matthew Hamilton bought a new position in Alibaba Group in the 2nd quarter valued at $26,000. 13.47% of the stock is currently owned by hedge funds and other 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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