Alibaba Group (NYSE:BABA) Price Target Raised to $190.00 at Susquehanna

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 raised by analysts at Susquehanna from $175.00 to $190.00 in a report released on Thursday, Marketbeat.com reports. The brokerage currently has a "positive" rating on the specialty retailer's stock. Susquehanna's price target points to a potential upside of 16.72% from the stock's previous close.

Several other equities analysts have also issued reports on BABA. Citigroup lifted their target price on Alibaba Group from $148.00 to $187.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Bank of America boosted their price target on Alibaba Group from $135.00 to $152.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Arete upgraded Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price target on the stock in a research note on Wednesday, September 3rd. Robert W. Baird boosted their price target on Alibaba Group from $142.00 to $153.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 2nd. Finally, Jefferies Financial Group boosted their price target on Alibaba Group from $165.00 to $178.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $168.81.

Alibaba Group Stock Up 0.2%

BABA traded up $0.30 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 stock has a fifty day moving average price of $128.92 and a 200-day moving average price of $123.49. Alibaba Group has a 12-month low of $80.06 and a 12-month high of $167.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market capitalization of $388.08 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 2.00 and a beta of 0.11.

Institutional Investors Weigh In On Alibaba Group

A number of hedge funds have recently bought and sold shares of BABA. Kingstone Capital Partners Texas LLC raised its position in Alibaba Group by 1,349,768.3% in the 2nd 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 in the last quarter. Norges Bank acquired a new stake in Alibaba Group in the 2nd quarter valued at about $527,243,000. Mirae Asset Global Investments Co. Ltd. raised its position in Alibaba Group by 3,214.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after purchasing an additional 4,246,564 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Alibaba Group by 85.6% during the 1st 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 worth $1,131,558,000 after acquiring an additional 3,947,460 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in 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 worth $2,069,144,000 after buying an additional 2,885,154 shares during the period. Institutional investors and hedge funds own 13.47% of the company's stock.

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.