JPMorgan Chase & Co. Boosts Alibaba Group (NYSE:BABA) Price Target to $170.00

Alibaba Group (NYSE:BABA) had its target price raised by analysts at JPMorgan Chase & Co. from $125.00 to $170.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 18.92% from the stock’s previous close.

Several other research firms also recently issued reports on BABA. Barclays boosted their price objective on Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Friday. Citigroup boosted their price target on shares of Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday. Mizuho increased their price objective on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Bank of America boosted their target price on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and an average target price of $126.79.

Alibaba Group Price Performance

NYSE:BABA opened at $142.96 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average price is $94.31 and its 200-day moving average price is $92.42. The stock has a market capitalization of $339.66 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 0.53 and a beta of 0.31. Alibaba Group has a 52 week low of $68.36 and a 52 week high of $144.51.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business had revenue of $38.38 billion for the quarter, compared to analysts’ expectations of $38.19 billion. As a group, equities analysts expect that Alibaba Group will post 7.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Concord Wealth Partners boosted its position in shares of Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares in the last quarter. Decker Retirement Planning Inc. purchased a new position in Alibaba Group in the 4th quarter worth about $31,000. Sierra Ocean LLC acquired a new stake in Alibaba Group during the 4th quarter worth about $32,000. Highline Wealth Partners LLC purchased a new stake in Alibaba Group during the third quarter valued at about $36,000. Finally, Assetmark Inc. boosted its holdings in shares of Alibaba Group by 225.4% in the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after buying an additional 275 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

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.