Alibaba Group (NYSE:BABA) had its price target increased by equities researchers at Raymond James Financial to $240.00 in a research report issued to clients and investors on Friday. The brokerage presently has a “strong-buy” rating on the specialty retailer’s stock. Raymond James Financial’s price objective points to a potential upside of 26.44% from the stock’s previous close.
A number of other analysts also recently weighed in on the company. SunTrust Banks restated a “buy” rating and issued a $205.00 target price on shares of Alibaba Group in a research report on Friday, October 20th. Zacks Investment Research raised Alibaba Group from a “hold” rating to a “buy” rating and set a $211.00 price target on the stock in a research note on Wednesday, November 8th. Needham & Company LLC lifted their price target on Alibaba Group from $190.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. BidaskClub raised Alibaba Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 12th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $220.00 price target (up from $200.00) on shares of Alibaba Group in a research note on Monday, November 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the company. Alibaba Group currently has a consensus rating of “Buy” and a consensus price target of $208.52.
Alibaba Group (NYSE:BABA) traded down $2.41 during trading hours on Friday, reaching $189.81. The company had a trading volume of 23,397,704 shares, compared to its average volume of 22,640,301. The company has a market cap of $486,620.00, a P/E ratio of 46.28, a price-to-earnings-growth ratio of 1.54 and a beta of 2.58. Alibaba Group has a one year low of $100.02 and a one year high of $206.20. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21.
Institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. bought a new position in Alibaba Group in the fourth quarter valued at about $117,209,000. British Airways Pensions Investment Management Ltd increased its position in Alibaba Group by 62.0% in the second quarter. British Airways Pensions Investment Management Ltd now owns 374,515 shares of the specialty retailer’s stock worth $29,903,000 after buying an additional 143,364 shares in the last quarter. AJO LP increased its position in Alibaba Group by 55.5% in the second quarter. AJO LP now owns 132,529 shares of the specialty retailer’s stock worth $18,673,000 after buying an additional 47,324 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in Alibaba Group by 38.9% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 576,900 shares of the specialty retailer’s stock worth $45,881,000 after buying an additional 161,500 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Alibaba Group by 76.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,605,993 shares of the specialty retailer’s stock worth $207,255,000 after buying an additional 1,130,509 shares in the last quarter. 37.96% of the stock is currently owned by institutional investors and hedge funds.
About Alibaba Group
Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.
