Benchmark Lowers Alibaba Group (NYSE:BABA) Price Target to $176.00

Alibaba Group (NYSE:BABA) had its price objective reduced by equities researchers at Benchmark from $190.00 to $176.00 in a research report issued on Friday, MarketBeat.com reports. The firm currently has a “buy” rating on the specialty retailer’s stock. Benchmark’s price objective suggests a potential upside of 42.66% from the stock’s previous close.

Other research analysts have also issued reports about the stock. StockNews.com raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd. Mizuho raised shares of Alibaba Group to a “strong-buy” rating in a research report on Friday, April 18th. Citigroup reduced their price target on shares of Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a research report on Wednesday. Finally, Bank of America lifted their price target on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Alibaba Group currently has an average rating of “Buy” and an average target price of $154.21.

Alibaba Group Trading Down 0.4%

Shares of Alibaba Group stock opened at $123.37 on Friday. The firm has a market capitalization of $294.59 billion, a PE ratio of 17.83, a P/E/G ratio of 0.61 and a beta of 0.24. Alibaba Group has a twelve month low of $71.80 and a twelve month high of $148.43. The firm’s 50-day moving average price is $123.38 and its 200 day moving average price is $107.27. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19.

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 analysts’ consensus estimates of $2.84 by ($0.07). Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. The company had revenue of $38.38 billion during the quarter, compared to analysts’ expectations of $38.19 billion. On average, sell-side analysts predict 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 added to or reduced their stakes in the company. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Alibaba Group during the first quarter worth $26,000. Summit Securities Group LLC increased its position in shares of Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 59,000 shares during the period. Hazlett Burt & Watson Inc. increased its position in shares of Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 196 shares during the period. Decker Retirement Planning Inc. purchased a new stake in shares of Alibaba Group during the fourth quarter worth $31,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Alibaba Group during the first quarter worth $31,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

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.