JPMorgan Chase & Co. Cuts Alibaba Group (NYSE:BABA) Price Target to $230.00

Alibaba Group (NYSE:BABA) had its price target lowered by JPMorgan Chase & Co. from $240.00 to $230.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the specialty retailer’s stock.

Other equities research analysts also recently issued research reports about the company. Zacks Research downgraded Alibaba Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Alibaba Group in a research report on Wednesday, October 8th. Erste Group Bank upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Benchmark reaffirmed a “buy” rating and issued a $195.00 price objective on shares of Alibaba Group in a research note on Tuesday. Finally, Barclays lifted their price objective on shares of Alibaba Group from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus price target of $191.89.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $157.19 on Wednesday. The business has a 50-day simple moving average of $168.30 and a 200 day simple moving average of $138.80. Alibaba Group has a one year low of $80.06 and a one year high of $192.67. 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 firm has a market capitalization of $375.06 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.40 and a beta of 0.19.

Institutional Trading of Alibaba Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameriflex Group Inc. boosted its holdings in Alibaba Group by 101.4% during the third quarter. Ameriflex Group Inc. now owns 143 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 72 shares during the last quarter. Mather Group LLC. purchased a new stake in Alibaba Group in the 3rd quarter valued at about $30,000. Foster Dykema Cabot & Partners LLC bought a new position in shares of Alibaba Group during the 3rd quarter worth approximately $30,000. NBT Bank N A NY boosted its stake in shares of Alibaba Group by 231.5% in the 3rd quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock worth $32,000 after buying an additional 125 shares during the last quarter. Finally, 1248 Management LLC bought a new position in shares of Alibaba Group in the first quarter valued at approximately $26,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

About Alibaba Group

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.