JPMorgan Chase & Co. Cuts Alibaba Group (NYSE:BABA) Price Target to $240.00

Key Points

• JPMorgan Chase & Co. has lowered its price target for Alibaba Group from $245.00 to $240.00, while maintaining an "overweight" rating on the stock, suggesting a potential upside of 37.02% from its current price.
• Multiple analysts have given Alibaba varying ratings and price targets, with the overall consensus rating being "Buy" and an average target price of $185.71.
• In recent trading, Alibaba Group's stock fell to $175.16, with a significant trading volume of 4.63 million shares exchanged compared to its average volume of 21.36 million.

Alibaba Group (NYSE:BABA - Get Free Report) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $245.00 to $240.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the specialty retailer's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 37.02% from the stock's current price.

Several other equities analysts have also weighed in on the stock. UBS Group reissued a "buy" rating and issued a $162.00 price objective on shares of Alibaba Group in a research report on Sunday, August 31st. Mizuho increased their price objective on shares of Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a research report on Tuesday, September 2nd. Barclays increased their price objective on shares of Alibaba Group from $145.00 to $190.00 and gave the company an "overweight" rating in a research report on Monday, September 8th. Bank of America raised their price target on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Finally, Nomura raised their price target on shares of Alibaba Group from $170.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $185.71.

Alibaba Group Stock Performance

NYSE BABA traded down $5.96 on Thursday, hitting $175.16. 4,634,694 shares of the stock were exchanged, compared to its average volume of 21,358,354. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The business's fifty day moving average is $144.47 and its 200 day moving average is $127.08. Alibaba Group has a 52 week low of $80.06 and a 52 week high of $192.67. The company has a market capitalization of $417.59 billion, a PE ratio of 20.39, a P/E/G ratio of 2.14 and a beta of 0.18.

Institutional Trading of Alibaba Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC boosted 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 valued at $5,558,646,000 after purchasing an additional 49,010,087 shares during the period. Primecap Management Co. CA raised its holdings in shares of Alibaba Group by 0.7% during the second quarter. Primecap Management Co. CA now owns 20,764,276 shares of the specialty retailer's stock valued at $2,354,877,000 after acquiring an additional 140,579 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Alibaba Group by 22.6% during the first 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 in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Alibaba Group by 43.0% during the first 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Alibaba Group by 85.6% during the first 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 in the last quarter. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.