Alibaba Group (NYSE:BABA) PT Raised to $124.00

Alibaba Group (NYSE:BABA) had its price objective lifted by equities research analysts at Bank of America from $106.00 to $124.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Bank of America‘s target price suggests a potential upside of 13.47% from the stock’s previous close.

Several other equities analysts have also weighed in on BABA. Sanford C. Bernstein increased their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, August 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. Truist Financial cut their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. increased their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a report on Monday. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and an average price target of $110.75.

Alibaba Group Price Performance

BABA opened at $109.28 on Wednesday. Alibaba Group has a one year low of $66.63 and a one year high of $117.82. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The company’s 50 day simple moving average is $88.60 and its 200-day simple moving average is $80.64. The stock has a market capitalization of $277.30 billion, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 0.46 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same period in the prior year, the firm earned $2.47 earnings per share. Alibaba Group’s revenue was up 3.9% compared to the same quarter last year. Sell-side analysts anticipate that Alibaba Group will post 7.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC grew its position in Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 128 shares in the last quarter. North Star Investment Management Corp. grew its position in shares of Alibaba Group by 11.2% in the 1st quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock valued at $111,000 after acquiring an additional 154 shares during the period. EPIQ Capital Group LLC grew its position in shares of Alibaba Group by 0.3% in the 2nd quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock valued at $3,396,000 after acquiring an additional 157 shares during the period. Evolution Wealth Advisors LLC grew its position in shares of Alibaba Group by 4.1% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 4,004 shares of the specialty retailer’s stock valued at $288,000 after acquiring an additional 158 shares during the period. Finally, WNY Asset Management LLC grew its position in shares of Alibaba Group by 2.8% in the 1st quarter. WNY Asset Management LLC now owns 6,022 shares of the specialty retailer’s stock valued at $436,000 after acquiring an additional 164 shares during the period. 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.