Susquehanna Forecasts Strong Price Appreciation for Alibaba Group (NYSE:BABA) Stock

Key Points

• Susquehanna has raised its price target for Alibaba Group (NYSE:BABA) from $175.00 to $190.00, indicating a potential upside of 14.47% from the current price.
• Several other analysts, including Bank of America and Barclays, have also raised their price targets for Alibaba, with the average price target now at $168.81.
• Alibaba's stock recently opened at $165.98 and boasts a market cap of $395.71 billion, reflecting a significant rebound from its twelve-month low of $80.06.

Alibaba Group (NYSE:BABA - Get Free Report) had its target price boosted by stock analysts at Susquehanna from $175.00 to $190.00 in a note issued to investors on Thursday, Marketbeat reports. The firm presently has a "positive" rating on the specialty retailer's stock. Susquehanna's target price points to a potential upside of 16.72% from the company's previous close.

BABA has been the subject of several other reports. Robert W. Baird boosted their target price on Alibaba Group from $142.00 to $153.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. Arete upgraded Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 target price for the company in a research report on Wednesday, September 3rd. Citigroup boosted their target price on Alibaba Group from $148.00 to $187.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Sanford C. Bernstein restated an "outperform" rating and set a $160.00 target price on shares of Alibaba Group in a research report on Saturday, August 30th. Finally, Benchmark boosted their target price on Alibaba Group from $176.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Alibaba Group currently has a consensus rating of "Buy" and an average target price of $168.81.

Alibaba Group Stock Performance

Shares of NYSE BABA traded up $0.30 during mid-day trading on Thursday, hitting $162.78. The company had a trading volume of 18,148,834 shares, compared to its average volume of 24,569,858. The company has a market capitalization of $388.08 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 1.99 and a beta of 0.11. Alibaba Group has a 1 year low of $80.06 and a 1 year high of $167.32. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The stock's 50-day moving average price is $128.92 and its 200-day moving average price is $123.61.

Hedge Funds Weigh In On Alibaba Group

Hedge funds and other institutional investors have recently modified their holdings of the company. 1248 Management LLC purchased a new position in shares of Alibaba Group in the 1st quarter worth about $26,000. North Ridge Wealth Advisors Inc. purchased a new position in shares of Alibaba Group in the 1st quarter worth about $26,000. Summit Securities Group LLC boosted its holdings 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 worth $26,000 after purchasing an additional 59,000 shares in the last quarter. Ransom Advisory Ltd purchased a new position in shares of Alibaba Group in the 1st quarter worth about $26,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 196 shares during the period. 13.47% of the stock is currently owned by hedge funds and other 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.