Alibaba Group (NYSE:BABA) Price Target Raised to $187.00 at Citigroup

Alibaba Group (NYSE:BABA) had its price objective upped by Citigroup from $148.00 to $187.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a buy rating on the specialty retailer’s stock.

A number of other equities research analysts have also issued reports on the stock. Benchmark increased their price objective on shares of Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday. Wall Street Zen lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Loop Capital set a $176.00 price objective on shares of Alibaba Group in a report on Friday, May 16th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $160.00 price objective on shares of Alibaba Group in a report on Saturday. Finally, Robert W. Baird increased their price objective on shares of Alibaba Group from $142.00 to $153.00 and gave the company an “outperform” rating in a report on Tuesday. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and an average target price of $164.62.

Alibaba Group Trading Up 2.7%

Shares of BABA opened at $138.63 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. Alibaba Group has a 1 year low of $80.06 and a 1 year high of $148.43. The company has a 50 day simple moving average of $118.38 and a two-hundred day simple moving average of $121.91. The firm has a market cap of $330.53 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 1.99 and a beta of 0.11.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Accent Capital Management LLC lifted its position in Alibaba Group by 5.5% in the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer’s stock worth $209,000 after buying an additional 82 shares during the last quarter. Cary Street Partners Financial LLC lifted its position in Alibaba Group by 1.8% in the second quarter. Cary Street Partners Financial LLC now owns 4,757 shares of the specialty retailer’s stock worth $539,000 after buying an additional 83 shares during the last quarter. Greenleaf Trust lifted its position in Alibaba Group by 1.0% in the first quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer’s stock worth $1,102,000 after buying an additional 85 shares during the last quarter. Marcum Wealth LLC lifted its position in Alibaba Group by 3.2% in the first quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer’s stock worth $363,000 after buying an additional 86 shares during the last quarter. Finally, Wedbush Securities Inc. lifted its position in Alibaba Group by 2.1% in the second quarter. Wedbush Securities Inc. now owns 4,237 shares of the specialty retailer’s stock worth $480,000 after buying an additional 88 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

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.