Alibaba Group (NYSE:BABA) Price Target Raised to $152.00 at Bank of America

Alibaba Group (NYSE:BABA) had its price target raised by Bank of America from $135.00 to $152.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

A number of other equities research analysts have also weighed in on the stock. Wall Street Zen lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a report on Wednesday, May 14th. Loop Capital set a $176.00 target price on shares of Alibaba Group in a report on Friday, May 16th. Robert W. Baird reduced their target price on shares of Alibaba Group from $147.00 to $142.00 and set an “outperform” rating on the stock in a report on Friday, May 16th. Finally, Mizuho reduced their target price on shares of Alibaba Group from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Friday, May 16th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average target price of $164.62.

Alibaba Group Trading Up 2.7%

Shares of Alibaba Group stock opened at $138.63 on Tuesday. The firm has a market capitalization of $330.53 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 1.99 and a beta of 0.11. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $118.38 and its 200 day moving average is $121.91. Alibaba Group has a 1 year low of $80.06 and a 1 year high of $148.43.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. North Ridge Wealth Advisors Inc. acquired a new position in shares of Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC lifted its position in shares of Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 59,000 shares during the period. Ransom Advisory Ltd acquired a new position in shares of Alibaba Group during the 1st quarter valued at $26,000. 1248 Management LLC acquired a new position in shares of Alibaba Group during the 1st quarter valued at $26,000. Finally, Rosenberg Matthew Hamilton acquired a new position in shares of Alibaba Group during the 2nd quarter valued at $26,000. Institutional investors and hedge funds 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.