Alibaba Group (NYSE:BABA) Sets New 12-Month High Following Analyst Upgrade

Alibaba Group Holding Limited (NYSE:BABA) shares hit a new 52-week high on Monday after Jefferies Financial Group raised their price target on the stock from $178.00 to $230.00. Jefferies Financial Group currently has a buy rating on the stock. Alibaba Group traded as high as $181.32 and last traded at $179.41, with a volume of 4156036 shares trading hands. The stock had previously closed at $171.91.

Other research analysts have also recently issued reports about the stock. Bank of America increased their price target on shares of Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Benchmark increased their target price on Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Citigroup restated a “buy” rating on shares of Alibaba Group in a research note on Wednesday, September 24th. Barclays increased their price objective on Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. Finally, Mizuho boosted 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, September 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $176.06.

Institutional Investors Weigh In On Alibaba Group

Several institutional investors and hedge funds have recently bought and sold shares of BABA. Momentum Wealth Planning LLC bought a new position in Alibaba Group in the 2nd quarter valued at about $421,000. Canal Capital Management LLC boosted its position in shares of Alibaba Group by 4.2% during the 2nd quarter. Canal Capital Management LLC now owns 40,901 shares of the specialty retailer’s stock worth $4,639,000 after acquiring an additional 1,650 shares in the last quarter. Centaurus Financial Inc. increased its stake in Alibaba Group by 4.7% in the second quarter. Centaurus Financial Inc. now owns 2,103 shares of the specialty retailer’s stock valued at $238,000 after acquiring an additional 94 shares during the last quarter. Infini Capital Management Ltd raised its position in Alibaba Group by 1,215,800.0% during the second quarter. Infini Capital Management Ltd now owns 303,975 shares of the specialty retailer’s stock valued at $34,474,000 after purchasing an additional 303,950 shares in the last quarter. Finally, Orion Porfolio Solutions LLC lifted its stake in Alibaba Group by 3.9% during the second quarter. Orion Porfolio Solutions LLC now owns 33,111 shares of the specialty retailer’s stock worth $3,755,000 after purchasing an additional 1,239 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Up 4.6%

The firm has a 50 day simple moving average of $135.57 and a two-hundred day simple moving average of $124.79. The stock has a market capitalization of $428.88 billion, a P/E ratio of 20.92, a PEG ratio of 1.98 and a beta of 0.11. 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 Company Profile

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.