Alibaba Group (NYSE:BABA - Get Free Report) had its price target upped by equities researchers at Robert W. Baird from $142.00 to $153.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the specialty retailer's stock. Robert W. Baird's target price suggests a potential upside of 12.93% from the stock's previous close.
Several other analysts also recently weighed in on the company. Arete Research downgraded Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Jefferies Financial Group set a $165.00 price target on Alibaba Group and gave the stock a "buy" rating in a research note on Friday, August 29th. Barclays decreased their price target on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Mizuho lifted their price target on Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Sanford C. Bernstein reissued an "outperform" rating and issued a $160.00 target price on shares of Alibaba Group in a report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $163.53.
View Our Latest Stock Analysis on BABA
Alibaba Group Stock Up 3.5%
Shares of Alibaba Group stock traded up $4.57 during trading hours on Tuesday, hitting $135.49. 19,166,179 shares of the company's stock traded hands, compared to its average volume of 17,007,000. The stock has a 50 day simple moving average of $119.59 and a 200-day simple moving average of $122.11. The company has a quick ratio of 1.55, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The company has a market cap of $323.03 billion, a PE ratio of 15.75, a PEG ratio of 1.83 and a beta of 0.11. Alibaba Group has a twelve month low of $80.06 and a twelve month high of $148.43.
Institutional Investors Weigh In On Alibaba Group
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. North Ridge Wealth Advisors Inc. bought a new position in shares of Alibaba Group in the first quarter valued at $26,000. Summit Securities Group LLC increased its holdings in shares of Alibaba Group by 100.3% in the first 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 shares of Alibaba Group in the first quarter valued at $26,000. 1248 Management LLC bought a new position in shares of Alibaba Group in the first quarter valued at $26,000. Finally, Rosenberg Matthew Hamilton bought a new position in shares of Alibaba Group in the second quarter valued at $26,000. Institutional investors own 13.47% of the company's stock.
About Alibaba Group
(
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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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