Bank of America Issues Positive Forecast for Alibaba Group (NYSE:BABA) Stock Price

Alibaba Group (NYSE:BABA) had its price target raised by Bank of America from $117.00 to $150.00 in a research report sent to investors on Friday,Benzinga reports. Bank of America currently has a buy rating on the specialty retailer’s stock.

BABA has been the topic of a number of other reports. Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday, November 15th. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday. Barclays dropped their price objective on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 19th. Citigroup raised their price objective on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Mizuho raised their price objective on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.93.

Alibaba Group Price Performance

Shares of BABA opened at $143.67 on Friday. Alibaba Group has a 12-month low of $68.36 and a 12-month high of $145.30. The business’s fifty day moving average is $95.43 and its 200 day moving average is $93.09. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The stock has a market cap of $341.36 billion, a P/E ratio of 20.76, a P/E/G ratio of 0.57 and a beta of 0.31.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.90% and a net margin of 12.29%. The firm had revenue of $38.38 billion during the quarter, compared to the consensus estimate of $38.19 billion. Sell-side analysts anticipate that Alibaba Group will post 7.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

Several large investors have recently made changes to their positions in BABA. Norges Bank purchased a new stake in Alibaba Group in the 4th quarter worth about $585,479,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Alibaba Group by 3,180.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock worth $409,385,000 after acquiring an additional 3,740,150 shares during the last quarter. Hhlr Advisors LTD. increased its holdings in Alibaba Group by 64.1% in the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after acquiring an additional 3,448,152 shares during the last quarter. FMR LLC increased its holdings in Alibaba Group by 454.2% in the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after acquiring an additional 2,959,954 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Alibaba Group by 208.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer’s stock worth $254,000,000 after acquiring an additional 2,024,640 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

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.