Benchmark Forecasts Strong Price Appreciation for Alibaba Group (NYSE:BABA) Stock

Alibaba Group (NYSE:BABA) had its price objective increased by Benchmark from $118.00 to $190.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Benchmark’s price target suggests a potential upside of 31.35% from the stock’s current price.

Several other analysts have also weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America upped their price objective on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a report on Friday. Barclays boosted their price objective on Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday. Mizuho lifted their target price on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird boosted their price target on shares of Alibaba Group from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.93.

Alibaba Group Stock Performance

Shares of NYSE:BABA traded up $8.68 on Friday, reaching $144.65. 38,869,916 shares of the company’s stock were exchanged, compared to its average volume of 29,184,744. Alibaba Group has a twelve month low of $68.36 and a twelve month high of $145.30. The company has a fifty day moving average of $94.31 and a 200-day moving average of $92.42. The company has a market capitalization of $343.68 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 0.53 and a beta of 0.31. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. On average, research analysts predict that Alibaba Group will post 7.86 EPS for the current fiscal year.

Institutional Trading of Alibaba Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Sanders Capital LLC lifted its holdings in shares of Alibaba Group by 0.3% during the third quarter. Sanders Capital LLC now owns 18,460,434 shares of the specialty retailer’s stock valued at $1,959,021,000 after purchasing an additional 60,667 shares in the last quarter. Appaloosa LP boosted its holdings in shares of Alibaba Group by 18.4% during the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock valued at $1,004,181,000 after acquiring an additional 1,843,158 shares during the last quarter. Hhlr Advisors LTD. grew its stake in shares of Alibaba Group by 64.1% in the third quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after acquiring an additional 3,448,152 shares during the period. Norges Bank purchased a new position in shares of Alibaba Group during the fourth quarter valued at approximately $585,479,000. Finally, Bank of America Corp DE lifted its position in Alibaba Group by 7.0% during the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer’s stock valued at $566,124,000 after purchasing an additional 438,537 shares during the period. 13.47% of the stock is owned by hedge funds and other institutional investors.

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.