JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Alibaba Group (NYSE:BABA) Stock

Key Points

• JPMorgan Chase & Co. has increased its price target for Alibaba Group stock from $170.00 to $245.00, suggesting a potential upside of 35.63% from its previous close.
• Overall, analysts display a positive sentiment toward Alibaba, with the company receiving multiple target price upgrades and an average rating of "Buy".
• Shares of Alibaba are currently trading at $180.64, reflecting a 1.1% rise during mid-day trading.

Alibaba Group (NYSE:BABA - Get Free Report) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $170.00 to $245.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the specialty retailer's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 35.63% from the stock's previous close.

Several other equities research analysts also recently weighed in on BABA. Mizuho boosted their target price 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. UBS Group reiterated a "buy" rating and issued a $162.00 target price on shares of Alibaba Group in a research report on Sunday, August 31st. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Barclays boosted their target price on shares of Alibaba Group from $145.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, September 8th. Finally, Zacks Research upgraded shares of Alibaba Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned 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 an average target price of $180.75.

Alibaba Group Stock Up 1.1%

Shares of BABA traded up $1.91 during mid-day trading on Wednesday, reaching $180.64. 5,393,966 shares of the stock traded hands, compared to its average volume of 21,535,551. The stock has a fifty day simple moving average of $136.73 and a 200 day simple moving average of $125.16. Alibaba Group has a 12-month low of $80.06 and a 12-month high of $182.15. 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 has a market cap of $430.65 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 2.07 and a beta of 0.11.

Institutional Trading of Alibaba Group

A number of hedge funds and other institutional investors have recently made changes to their positions in BABA. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC lifted its position in shares of 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 acquiring an additional 59,000 shares in the last quarter. Ransom Advisory Ltd acquired a new position in Alibaba Group in the 1st quarter worth approximately $26,000. 1248 Management LLC purchased a new position in Alibaba Group during the 1st quarter worth approximately $26,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in Alibaba Group during the 2nd quarter valued at $26,000. 13.47% of the stock is currently owned by 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.

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.