JPMorgan Chase & Co. Issues Positive Forecast for Alibaba Group (NYSE:BABA) Stock Price

Alibaba Group (NYSE:BABA) had its price target increased by JPMorgan Chase & Co. from $170.00 to $245.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the specialty retailer’s stock.

BABA has been the subject of a number of other reports. Barclays upped their price target on Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Susquehanna upped their price target on Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research note on Thursday, September 18th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Alibaba Group in a research note on Saturday, August 30th. Citigroup reaffirmed a “buy” rating on shares of Alibaba Group in a research note on Wednesday, September 24th. Finally, Bank of America upped their price target on Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $180.75.

Alibaba Group Stock Performance

Shares of BABA stock opened at $182.70 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market cap of $435.57 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 2.06 and a beta of 0.18. The stock has a 50-day moving average of $137.93 and a 200-day moving average of $125.56. Alibaba Group has a one year low of $80.06 and a one year high of $183.08.

Institutional Investors Weigh In On Alibaba Group

Several hedge funds have recently added to or reduced their stakes in BABA. Vigilare Wealth Management acquired a new stake in shares of Alibaba Group during the third quarter worth $427,000. Momentum Wealth Planning LLC acquired a new stake in shares of Alibaba Group during the second quarter worth $421,000. Canal Capital Management LLC lifted its holdings in shares of Alibaba Group by 4.2% during the second quarter. Canal Capital Management LLC now owns 40,901 shares of the specialty retailer’s stock worth $4,639,000 after buying an additional 1,650 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in shares of Alibaba Group by 4.7% during the second quarter. Centaurus Financial Inc. now owns 2,103 shares of the specialty retailer’s stock worth $238,000 after buying an additional 94 shares in the last quarter. Finally, Infini Capital Management Ltd lifted its holdings in shares of 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 worth $34,474,000 after buying an additional 303,950 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

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.