Citigroup Issues Positive Forecast for Alibaba Group (NYSE:BABA) Stock Price

Alibaba Group (NYSE:BABA) had its price objective increased by Citigroup from $133.00 to $138.00 in a research report sent to investors on Friday,Benzinga reports. Citigroup currently has a buy rating on the specialty retailer’s stock.

Several other research analysts have also issued reports on the stock. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a research note on Monday, October 7th. StockNews.com cut shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Benchmark reaffirmed a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research report on Friday, November 15th. Barclays dropped their price target 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. 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 investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $115.13.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $80.49 on Friday. The company has a market cap of $191.80 billion, a P/E ratio of 16.33, a PEG ratio of 0.44 and a beta of 0.30. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $87.59 and a two-hundred day moving average price of $87.54. Alibaba Group has a 1-year low of $66.63 and a 1-year high of $117.82.

Alibaba Group (NYSE:BABA) last issued its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. The business had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 earnings per share. As a group, analysts anticipate that Alibaba Group will post 8.44 EPS for the current year.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently modified their holdings of BABA. Strategic Investment Solutions Inc. IL bought a new stake in Alibaba Group during the second quarter worth $27,000. Concord Wealth Partners increased its position in shares of Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of Alibaba Group during the 3rd quarter worth $36,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Alibaba Group in the 2nd quarter worth about $38,000. Finally, Assetmark Inc. grew its position in Alibaba Group by 225.4% during the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 275 shares during the period. Hedge funds and other institutional investors 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.