Alibaba Group (NYSE:BABA) Trading 1.1% Higher After Analyst Upgrade

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded up 1.1% during mid-day trading on Tuesday after Citigroup raised their price target on the stock from $148.00 to $187.00. Citigroup currently has a buy rating on the stock. Alibaba Group traded as high as $138.44 and last traded at $136.49. 19,981,279 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 21,148,422 shares. The stock had previously closed at $135.00.

A number of other brokerages also recently issued reports on BABA. UBS Group reaffirmed a “buy” rating on shares of Alibaba Group in a research report on Sunday. Bank of America increased their target price on shares of Alibaba Group from $135.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research report on Friday, May 16th. Barclays reduced their target price on shares of Alibaba Group from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, July 15th. Finally, Mizuho increased their target price on shares of Alibaba Group from $149.00 to $159.00 and gave the company an “outperform” rating in a research report on Tuesday. Twelve analysts have rated the stock with a Buy rating and two have assigned 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. boosted its holdings in Alibaba Group by 52.1% in the 1st quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer’s stock valued at $303,215,000 after purchasing an additional 785,494 shares during the period. Causeway Capital Management LLC boosted its holdings in Alibaba Group by 42.6% in the 1st quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer’s stock valued at $179,305,000 after purchasing an additional 404,842 shares during the period. WCM Investment Management LLC bought a new position in Alibaba Group in the 1st quarter valued at $4,074,000. KMG Fiduciary Partners LLC bought a new position in Alibaba Group in the 1st quarter valued at $1,948,000. Finally, Avaii Wealth Management LLC bought a new position in Alibaba Group in the 1st quarter valued at $563,000. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Performance

The company’s fifty day simple moving average is $118.38 and its 200 day simple moving average is $121.91. 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 stock has a market capitalization of $330.53 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.99 and a beta of 0.11.

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.