Alibaba Group (NYSE:BABA) Price Target Raised to $106.00 at Bank of America

Alibaba Group (NYSE:BABA) had its target price lifted by Bank of America from $103.00 to $106.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

Several other equities analysts have also commented on BABA. Benchmark reaffirmed a buy rating and issued a $118.00 price target on shares of Alibaba Group in a research note on Wednesday, May 15th. Loop Capital lifted their price target on shares of Alibaba Group from $111.00 to $115.00 and gave the company a buy rating in a research report on Thursday, June 6th. Truist Financial reduced their price target on shares of Alibaba Group from $113.00 to $110.00 and set a buy rating on the stock in a research note on Wednesday, May 15th. Barclays dropped their target price on shares of Alibaba Group from $109.00 to $107.00 and set an overweight rating for the company in a report on Thursday, May 16th. Finally, Jefferies Financial Group restated a buy rating and set a $116.00 price target on shares of Alibaba Group in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $107.61.

Alibaba Group Price Performance

Alibaba Group stock opened at $83.16 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.13. The stock has a market cap of $211.02 billion, a P/E ratio of 19.38, a PEG ratio of 0.48 and a beta of 0.32. The company has a 50-day moving average price of $76.63 and a 200 day moving average price of $75.94. Alibaba Group has a 12-month low of $66.63 and a 12-month high of $96.68.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 EPS for the quarter, beating the consensus estimate of $0.92 by $0.13. The firm had revenue of $30.73 billion for the quarter, compared to analyst estimates of $30.59 billion. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. Sell-side analysts anticipate that Alibaba Group will post 6.96 earnings per share for the current year.

Institutional Trading of Alibaba Group

Hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in shares of Alibaba Group by 168.6% during the fourth quarter. International Assets Investment Management LLC now owns 10,245 shares of the specialty retailer’s stock worth $794,000 after purchasing an additional 6,431 shares in the last quarter. Koshinski Asset Management Inc. boosted its position in shares of Alibaba Group by 13.0% during the 4th quarter. Koshinski Asset Management Inc. now owns 3,216 shares of the specialty retailer’s stock worth $249,000 after acquiring an additional 370 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Alibaba Group by 3.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,082 shares of the specialty retailer’s stock valued at $1,557,000 after acquiring an additional 760 shares during the last quarter. Quantum Private Wealth LLC raised its position in shares of Alibaba Group by 60.6% during the 4th quarter. Quantum Private Wealth LLC now owns 29,979 shares of the specialty retailer’s stock worth $2,324,000 after acquiring an additional 11,316 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in Alibaba Group during the fourth quarter worth approximately $931,000. Institutional investors and hedge funds 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.