Alibaba Group (NYSE:BABA) Price Target Raised to $237.00

Alibaba Group (NYSE:BABA) had its price target raised by equities research analysts at Nomura from $193.00 to $237.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has a “buy” rating on the specialty retailer’s stock. Nomura’s price target would indicate a potential upside of 39.87% from the stock’s previous close.

BABA has been the topic of several other research reports. Freedom Capital downgraded shares of Alibaba Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Rosenblatt Securities set a $195.00 target price on shares of Alibaba Group in a report on Wednesday, November 26th. Benchmark reaffirmed a “buy” rating and set a $195.00 price target on shares of Alibaba Group in a research note on Tuesday, November 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday. Finally, Morgan Stanley cut their target price on Alibaba Group from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, January 8th. Eighteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.17.

Alibaba Group Trading Down 2.2%

Shares of BABA opened at $169.44 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46. Alibaba Group has a 1-year low of $89.22 and a 1-year high of $192.67. The stock has a market cap of $404.53 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 3.73 and a beta of 0.37. The firm has a 50 day simple moving average of $156.97 and a 200-day simple moving average of $150.34.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BABA. Ameriflex Group Inc. grew its stake in Alibaba Group by 101.4% in 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 in the last quarter. Mather Group LLC. bought a new stake in shares of Alibaba Group in the 3rd quarter valued at approximately $30,000. Foster Dykema Cabot & Partners LLC bought a new position in Alibaba Group during the third quarter worth $30,000. NBT Bank N A NY boosted its holdings in Alibaba Group by 231.5% in the third quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 125 shares during the period. Finally, Palisade Asset Management LLC bought a new stake in Alibaba Group during the third quarter valued at $37,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

About Alibaba Group

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.