Alibaba Group (NYSE:BABA) had its price objective boosted by equities research analysts at MKM Partners to $260.00 in a research note issued on Friday. The brokerage presently has a “buy” rating on the specialty retailer’s stock. MKM Partners’ target price would indicate a potential upside of 36.98% from the stock’s current price.
Several other research analysts also recently commented on BABA. Stifel Nicolaus raised their price objective on Alibaba Group to $260.00 and gave the stock a “positive” rating in a report on Friday. Vetr upgraded Alibaba Group from a “buy” rating to a “strong-buy” rating and set a $217.30 price objective on the stock in a report on Thursday. Deutsche Bank raised their price objective on Alibaba Group to $218.00 and gave the stock a “buy” rating in a report on Thursday. SunTrust Banks raised their price objective on Alibaba Group from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Monday. Finally, Robert W. Baird raised their price objective on Alibaba Group to $220.00 and gave the stock an “outperform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the stock. Alibaba Group presently has an average rating of “Buy” and a consensus price target of $208.52.
Shares of Alibaba Group (NYSE BABA) traded down $2.41 during mid-day trading on Friday, hitting $189.81. The company had a trading volume of 23,397,704 shares, compared to its average volume of 22,640,301. Alibaba Group has a 52-week low of $100.02 and a 52-week high of $206.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.71 and a quick ratio of 1.71. The company has a market cap of $486,620.00, a price-to-earnings ratio of 46.28, a P/E/G ratio of 1.54 and a beta of 2.58.
A number of institutional investors and hedge funds have recently modified their holdings of BABA. Schwab Charles Investment Management Inc. lifted its holdings in shares of Alibaba Group by 23.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 22,011 shares of the specialty retailer’s stock valued at $3,102,000 after buying an additional 4,113 shares during the period. Ark Investment Management LLC lifted its holdings in shares of Alibaba Group by 18.6% in the 2nd quarter. Ark Investment Management LLC now owns 55,464 shares of the specialty retailer’s stock valued at $7,815,000 after buying an additional 8,696 shares during the period. People s United Financial Inc. lifted its holdings in shares of Alibaba Group by 8.4% in the 2nd quarter. People s United Financial Inc. now owns 3,887 shares of the specialty retailer’s stock valued at $548,000 after buying an additional 300 shares during the period. Williams Jones & Associates LLC acquired a new position in shares of Alibaba Group in the 2nd quarter valued at about $308,000. Finally, San Francisco Sentry Investment Group CA acquired a new position in shares of Alibaba Group in the 2nd quarter valued at about $116,000. 37.96% of the stock is owned by institutional investors.
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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.
