JPMorgan Chase & Co. Raises Alibaba Group (NYSE:BABA) Price Target to $170.00

Alibaba Group (NYSE:BABA) had its price objective boosted by JPMorgan Chase & Co. from $125.00 to $170.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the specialty retailer’s stock.

Other equities analysts have also recently issued research reports about the company. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research report on Friday. Mizuho boosted their price target on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Citigroup boosted their price target on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Barclays boosted their price target on Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Benchmark restated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.93.

Alibaba Group Stock Up 5.7 %

BABA opened at $143.67 on Friday. The business’s 50-day simple moving average is $95.43 and its 200-day simple moving average is $93.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. Alibaba Group has a one year low of $68.36 and a one year high of $145.30. The stock has a market capitalization of $341.36 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 0.57 and a beta of 0.31.

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

Institutional Investors Weigh In On Alibaba Group

Institutional investors have recently modified their holdings of the company. Concord Wealth Partners lifted its stake in Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 155 shares in the last quarter. Decker Retirement Planning Inc. purchased a new stake in Alibaba Group in the 4th quarter valued at approximately $31,000. Sierra Ocean LLC purchased a new stake in Alibaba Group in the 4th quarter valued at approximately $32,000. Highline Wealth Partners LLC purchased a new stake in Alibaba Group in the 3rd quarter valued at approximately $36,000. Finally, Assetmark Inc. lifted its stake in Alibaba Group by 225.4% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 275 shares in the last quarter. Hedge funds and other 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.