Alibaba Group (NYSE:BABA) Shares Up 4.6% Following Analyst Upgrade

Alibaba Group Holding Limited (NYSE:BABA)’s share price shot up 4.6% during mid-day trading 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 $181.34 and last traded at $179.89. 21,295,725 shares changed hands during trading, a decline of 2% from the average session volume of 21,642,699 shares. The stock had previously closed at $171.91.

Several other analysts have also commented on BABA. Barclays raised their price objective on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, September 8th. Robert W. Baird lifted their price target on Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Mizuho upped their price target on Alibaba Group from $149.00 to $159.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 2nd. Susquehanna raised their price objective on Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research report on Thursday, September 18th. Finally, Benchmark boosted their target price on shares of Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Alibaba Group currently has an average rating of “Buy” and an average target price of $176.06.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC grew its holdings in shares of Alibaba Group by 1,349,768.3% during the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock valued at $5,558,646,000 after buying an additional 49,010,087 shares during the last quarter. Primecap Management Co. CA lifted its position in Alibaba Group by 0.7% in the 2nd quarter. Primecap Management Co. CA now owns 20,764,276 shares of the specialty retailer’s stock valued at $2,354,877,000 after acquiring an additional 140,579 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Alibaba Group by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock worth $2,069,144,000 after purchasing an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Alibaba Group by 43.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock worth $1,136,554,000 after purchasing an additional 2,584,480 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Alibaba Group by 85.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock worth $1,131,558,000 after purchasing an additional 3,947,460 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $428.88 billion, a P/E ratio of 20.92, a P/E/G ratio of 1.98 and a beta of 0.11. The business has a fifty day moving average price of $135.57 and a 200-day moving average price of $124.79.

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.