Alibaba Group (NYSE:BABA) Given New $200.00 Price Target at CLSA

Alibaba Group (NYSE:BABA) had its price objective raised by CLSA from $155.00 to $200.00 in a research report sent to investors on Thursday, MarketBeat.com reports. They currently have an outperform rating on the specialty retailer’s stock.

Other analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Alibaba Group from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $160.00 price objective on shares of Alibaba Group in a research note on Saturday, August 30th. Bank of America lifted their price objective on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Arete Research upgraded shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Finally, Zacks Research upgraded shares of Alibaba Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $181.88.

Alibaba Group Stock Performance

Shares of BABA stock opened at $189.38 on Thursday. The company has a market capitalization of $451.50 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 2.11 and a beta of 0.18. 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 company has a 50-day simple moving average of $139.30 and a 200 day simple moving average of $125.85. Alibaba Group has a 52 week low of $80.06 and a 52 week high of $192.67.

Hedge Funds Weigh In On Alibaba Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC increased its position in Alibaba Group by 1,349,768.3% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock worth $5,558,646,000 after purchasing an additional 49,010,087 shares in the last quarter. Primecap Management Co. CA increased its position in Alibaba Group by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 20,764,276 shares of the specialty retailer’s stock worth $2,354,877,000 after purchasing an additional 140,579 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock worth $2,069,144,000 after purchasing an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Alibaba Group by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock worth $1,136,554,000 after purchasing an additional 2,584,480 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in 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 purchasing an additional 3,947,460 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

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.