Bank of America Issues Positive Forecast for Alibaba Group (NYSE:BABA) Stock Price

Alibaba Group (NYSE:BABA) had its target price lifted by equities researchers at Bank of America from $117.00 to $150.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the specialty retailer’s stock. Bank of America‘s price target would indicate a potential upside of 4.41% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Mizuho increased their price target on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday. Barclays lowered their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, November 19th. Robert W. Baird raised their target price on Alibaba Group from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Benchmark reaffirmed a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average target price of $131.93.

Alibaba Group Trading Up 5.7 %

Shares of NYSE:BABA opened at $143.67 on Friday. The company has a market capitalization of $341.36 billion, a P/E ratio of 20.76, a P/E/G ratio of 0.57 and a beta of 0.31. Alibaba Group has a 1 year low of $68.36 and a 1 year high of $145.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The business’s 50 day simple moving average is $95.43 and its 200 day simple moving average is $92.99.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). The business had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.90%. On average, research analysts anticipate that Alibaba Group will post 7.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Concord Wealth Partners grew its stake in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of Alibaba Group in the third quarter worth about $36,000. Decker Retirement Planning Inc. purchased a new stake in Alibaba Group in the fourth quarter worth about $31,000. Sierra Ocean LLC purchased a new stake in Alibaba Group in the fourth quarter worth about $32,000. Finally, Assetmark Inc. lifted its holdings in Alibaba Group by 225.4% in the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after buying an additional 275 shares during the period. 13.47% of the stock is owned by institutional investors.

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.