Alibaba Group (NYSE:BABA) Price Target Raised to $195.00 at Bank of America

Alibaba Group (NYSE:BABA) had its target price lifted by Bank of America from $168.00 to $195.00 in a research note published on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the specialty retailer’s stock.

Several other analysts have also recently weighed in on the company. Zacks Research raised Alibaba Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 9th. Susquehanna increased their price objective on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a report on Thursday, September 18th. Barclays raised their price objective on shares of Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Sanford C. Bernstein reiterated an “outperform” rating and set a $160.00 target price on shares of Alibaba Group in a research report on Saturday, August 30th. Finally, Citigroup raised their price target on Alibaba Group from $148.00 to $187.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $172.81.

Alibaba Group Trading Up 8.3%

BABA stock opened at $176.66 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group has a twelve month low of $80.06 and a twelve month high of $180.16. The company has a market cap of $421.16 billion, a P/E ratio of 20.54, a PEG ratio of 2.00 and a beta of 0.11. The business has a fifty day moving average of $132.17 and a 200-day moving average of $124.18.

Institutional Trading of Alibaba Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Momentum Wealth Planning LLC bought a new stake in shares of Alibaba Group in the second quarter worth $421,000. Canal Capital Management LLC grew its position in Alibaba Group by 4.2% in the second quarter. Canal Capital Management LLC now owns 40,901 shares of the specialty retailer’s stock valued at $4,639,000 after purchasing an additional 1,650 shares in the last quarter. Centaurus Financial Inc. boosted its stake in shares of Alibaba Group by 4.7% during the 2nd quarter. Centaurus Financial Inc. now owns 2,103 shares of the specialty retailer’s stock worth $238,000 after buying an additional 94 shares during the last quarter. Infini Capital Management Ltd grew its holdings in shares of Alibaba Group by 1,215,800.0% in the 2nd quarter. Infini Capital Management Ltd now owns 303,975 shares of the specialty retailer’s stock valued at $34,474,000 after acquiring an additional 303,950 shares in the last quarter. Finally, Orion Porfolio Solutions LLC increased its position in shares of Alibaba Group by 3.9% in the second quarter. Orion Porfolio Solutions LLC now owns 33,111 shares of the specialty retailer’s stock valued at $3,755,000 after acquiring an additional 1,239 shares during the last quarter. 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.