Alibaba Group (NYSE:BABA) Given New $150.00 Price Target at Bank of America

Alibaba Group (NYSE:BABA - Free Report) had its price objective boosted by Bank of America from $117.00 to $150.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the specialty retailer's stock.

Several other equities research analysts have also commented on BABA. Benchmark reiterated a "buy" rating and set a $118.00 price target on shares of Alibaba Group in a research note on Friday, November 15th. Robert W. Baird upped their target price on shares of Alibaba Group from $110.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday. Mizuho increased their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 12th. StockNews.com upgraded shares of Alibaba Group from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Citigroup increased their price objective on Alibaba Group from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. 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.com, Alibaba Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.93.

Alibaba Group Stock Up 5.7 %

Shares of Alibaba Group stock traded up $7.70 during trading on Friday, hitting $143.67. 73,657,797 shares of the stock were exchanged, compared to its average volume of 30,282,477. The firm's 50-day moving average price is $95.43 and its 200 day moving average price is $92.88. Alibaba Group has a 12-month low of $68.36 and a 12-month high of $145.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market cap of $341.36 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 0.53 and a beta of 0.31.

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

Institutional Trading of Alibaba Group

Several hedge funds have recently modified their holdings of BABA. Norges Bank acquired a new stake 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 lifted its holdings in shares of Alibaba Group by 3,180.1% in 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 buying an additional 3,740,150 shares during the period. Hhlr Advisors LTD. lifted its holdings in shares of Alibaba Group by 64.1% in the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer's stock valued at $936,785,000 after buying an additional 3,448,152 shares during the period. FMR LLC lifted its holdings in shares of Alibaba Group by 454.2% in the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer's stock valued at $383,260,000 after buying an additional 2,959,954 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Alibaba Group by 208.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock worth $254,000,000 after purchasing an additional 2,024,640 shares during the last quarter. 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.