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

Alibaba Group (NYSE:BABA) had its price target cut by research analysts at JPMorgan Chase & Co. from $240.00 to $230.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 44.69% from the company’s previous close.

A number of other analysts also recently weighed in on BABA. Jefferies Financial Group upped their target price on shares of Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. UBS Group restated a “buy” rating and set a $162.00 target price on shares of Alibaba Group in a research report on Sunday, August 31st. Mizuho set a $195.00 price target on shares of Alibaba Group in a research report on Wednesday, October 22nd. Susquehanna lifted their price objective on Alibaba Group from $175.00 to $190.00 and gave the stock a “positive” rating in a research note on Thursday, September 18th. Finally, Barclays boosted their price objective on shares of Alibaba Group from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $189.89.

Alibaba Group Trading Up 1.2%

BABA stock traded up $1.95 during trading on Wednesday, hitting $158.96. 8,985,801 shares of the company traded hands, compared to its average volume of 20,605,014. The company has a 50-day moving average of $168.67 and a 200-day moving average of $138.36. Alibaba Group has a 1 year low of $80.06 and a 1 year high of $192.67. The firm has a market capitalization of $379.29 billion, a PE ratio of 18.48, a P/E/G ratio of 2.40 and a beta of 0.19. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.

Institutional Investors Weigh In On Alibaba Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Traphagen Investment Advisors LLC lifted its holdings in shares of Alibaba Group by 2.0% during the third quarter. Traphagen Investment Advisors LLC now owns 3,018 shares of the specialty retailer’s stock worth $539,000 after purchasing an additional 59 shares during the period. Bruce G. Allen Investments LLC lifted its holdings in shares of Alibaba Group by 26.4% in the third quarter. Bruce G. Allen Investments LLC now owns 302 shares of the specialty retailer’s stock valued at $54,000 after purchasing an additional 63 shares in the last quarter. Bluesphere Advisors LLC increased its position in Alibaba Group by 2.2% during the third quarter. Bluesphere Advisors LLC now owns 3,023 shares of the specialty retailer’s stock worth $540,000 after buying an additional 64 shares in the last quarter. Richardson Financial Services Inc. raised its stake in Alibaba Group by 34.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 65 shares during the last quarter. Finally, Transcend Capital Advisors LLC raised its position in shares of Alibaba Group by 1.0% in the third quarter. Transcend Capital Advisors LLC now owns 6,661 shares of the specialty retailer’s stock valued at $1,191,000 after buying an additional 66 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

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.