JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Alibaba Group (NYSE:BABA) Stock

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

A number of other research analysts have also issued reports on BABA. Mizuho upped their price target on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Bank of America upped their target price on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday. Barclays lifted their price target on Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday. Benchmark reiterated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research note on Friday, November 15th. Finally, Robert W. Baird raised their price objective on Alibaba Group from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus price target of $131.93.

Alibaba Group Stock Up 5.7 %

Alibaba Group stock opened at $143.67 on Friday. Alibaba Group has a 1-year low of $68.36 and a 1-year high of $145.30. The business has a fifty day moving average price of $95.43 and a 200-day moving average price of $92.88. 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 stock has a market capitalization of $341.36 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 0.53 and a beta of 0.31.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. Equities research analysts forecast that Alibaba Group will post 7.86 EPS for the current fiscal year.

Institutional Trading of Alibaba Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Foundations Investment Advisors LLC boosted its holdings in Alibaba Group by 21.1% in the 4th quarter. Foundations Investment Advisors LLC now owns 155,440 shares of the specialty retailer’s stock worth $13,180,000 after buying an additional 27,088 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of Alibaba Group by 131.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 74,807 shares of the specialty retailer’s stock worth $6,343,000 after purchasing an additional 42,446 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its position in shares of Alibaba Group by 63.9% during the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock worth $3,047,000 after purchasing an additional 11,192 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Alibaba Group by 7,734.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock valued at $28,632,000 after purchasing an additional 266,361 shares during the last quarter. Finally, Aspex Management HK Ltd purchased a new position in Alibaba Group in the 3rd quarter valued at $115,995,000. 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.