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

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

Other analysts also recently issued reports about the stock. Citigroup upped their target price on shares of Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Barclays boosted their target price on Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday. Bank of America raised their price target on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a report on Friday. Benchmark reissued a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Friday, November 15th. Finally, StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.79.

Alibaba Group Stock Up 5.1 %

Shares of NYSE BABA opened at $142.96 on Friday. The stock has a market capitalization of $339.66 billion, a P/E ratio of 29.17, a PEG ratio of 0.53 and a beta of 0.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. Alibaba Group has a one year low of $68.36 and a one year high of $144.51. The firm’s 50 day simple moving average is $94.31 and its two-hundred day simple moving average is $92.42.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results 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). The company had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. As a group, analysts expect that Alibaba Group will post 7.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Alibaba Group in the 4th quarter valued at approximately $585,479,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Alibaba Group by 3,180.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock valued at $409,385,000 after purchasing an additional 3,740,150 shares in the last quarter. Hhlr Advisors LTD. raised its holdings 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 buying an additional 3,448,152 shares during the last quarter. FMR LLC lifted its stake in shares of Alibaba Group by 454.2% during the third quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after buying an additional 2,959,954 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Alibaba Group by 208.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer’s stock valued at $254,000,000 after acquiring an additional 2,024,640 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.