Alibaba Group (NYSE:BABA) Given New $138.00 Price Target at Citigroup

Alibaba Group (NYSE:BABA) had its price objective boosted by investment analysts at Citigroup from $133.00 to $138.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the specialty retailer’s stock. Citigroup’s price objective points to a potential upside of 70.37% from the company’s current price.

A number of other analysts have also weighed in on BABA. StockNews.com lowered Alibaba Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 14th. Bank of America boosted their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a report on Monday, October 7th. Benchmark restated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a report on Friday, November 15th. Finally, Barclays dropped their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.13.

Alibaba Group Price Performance

Shares of NYSE BABA traded down $2.69 during trading hours on Friday, reaching $81.00. 10,498,992 shares of the stock traded hands, compared to its average volume of 11,254,547. The company has a market capitalization of $193.02 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 0.44 and a beta of 0.30. The company’s 50-day simple moving average is $87.93 and its two-hundred day simple moving average is $87.31. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. Alibaba Group has a 52-week low of $66.63 and a 52-week high of $117.82.

Alibaba Group (NYSE:BABA) last released its earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating the consensus estimate of $1.87 by $13.19. The company had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 EPS. Equities research analysts forecast that Alibaba Group will post 8.44 EPS for the current year.

Hedge Funds Weigh In On Alibaba Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Generate Investment Management Ltd bought a new position in Alibaba Group during the third quarter valued at approximately $12,656,000. Nations Financial Group Inc. IA ADV boosted its stake in shares of Alibaba Group by 63.9% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock worth $3,047,000 after buying an additional 11,192 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Alibaba Group by 6.5% in the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock worth $87,327,000 after acquiring an additional 50,000 shares during the period. Massachusetts Financial Services Co. MA increased its position in Alibaba Group by 7,734.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock valued at $28,632,000 after acquiring an additional 266,361 shares during the last quarter. Finally, Aspex Management HK Ltd purchased a new position in Alibaba Group in the third quarter worth about $115,995,000. 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.