Alibaba Group (NYSE:BABA) Receives New Price Target of $167.00 for Goldman Sachs Group
Alibaba Group (NYSE:BABA – Get Rating) had its price target raised by investment analysts Goldman Sachs Group from $163.00 to $167.00 in a research note released Monday to investors, reports The Fly. The Goldman Sachs Group price target indicates a potential upside of 52.41% from the current share price.
Other research analysts have also recently released reports on the stock. UBS Group cut its price target on Alibaba Group shares from $150.00 to $140.00 and set a “buy” rating on the stock in a Monday, April 11 report. JPMorgan Chase & Co. raised its price target on Alibaba Group shares from $130.00 to $140.00 and gave the stock an “overweight” rating in a Tuesday, July 5 report. Truist Financial raised its price target on Alibaba Group shares from $132.00 to $145.00 and gave the stock a “buy” rating in a Tuesday, May 31 report. The benchmark raised its price target on Alibaba Group shares from $200.00 to $205.00 and gave the stock a “buy” rating in a Wednesday July 6 research note. . Finally, HSBC lowered its price target on Alibaba Group shares from $146.00 to $141.00 and set a “buy” rating for the company in a Tuesday, July 5 research note. Two investment analysts have assigned the stock a sell rating, four have issued a hold rating and twenty-two have assigned the stock a buy rating. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $187.61.
BABA stock traded at $11.33 at midday on Monday, hitting $109.57. 31,044,149 shares of stock trade in hands, compared to its average volume of 29,998,449. The company has a 50-day moving average price of $100.86 and a two-hundred-day moving average price of 107, $69. The company has a debt ratio of 0.12, a quick ratio of 1.64 and a current ratio of 1.66. The stock has a market capitalization of $297.03 billion, a PE ratio of 35.69, a PEG ratio of 2.03 and a beta of 0.73. Alibaba Group has a one-year low of $73.28 and a one-year high of $216.60.
Alibaba Group (NYSE:BABA – Get Rating) last released its quarterly results on Thursday, May 26. The specialty retailer reported EPS of $1.45 for the quarter, beating analyst consensus estimates of $0.67 by $0.78. The company posted revenue of $204.05 billion for the quarter, versus $199.43 billion expected by analysts. Alibaba Group had a net margin of 6.35% and a return on equity of 11.17%. The company’s revenue for the quarter increased 8.9% year over year. In the same period a year earlier, the company posted earnings per share of $1.10. On average, stock analysts expect Alibaba Group to post earnings per share of 6.34 for the current fiscal year.
Institutional investors have recently changed their positions in the stock. Addison Advisors LLC increased its stake in Alibaba Group by 50.0% in Q4. Addison Advisors LLC now owns 255 shares of the specialty retailer worth $30,000 after purchasing an additional 85 shares during the period. Global Wealth Management Investment Advisory Inc. increased its holdings in the Alibaba Group by 74.1% in Q4. Global Wealth Management Investment Advisory Inc. now owns 235 shares of the specialty retailer worth $28,000 after purchasing an additional 100 shares during the period. Arlington Partners LLC increased its stake in Alibaba Group by 35.1% in Q1. Arlington Partners LLC now owns 385 shares of the specialty retailer worth $42,000 after purchasing an additional 100 shares during the period. Laurel Wealth Advisors Inc. increased its holdings in Alibaba Group by 6.6% in Q4. Laurel Wealth Advisors Inc. now owns 1,687 shares of the specialty retailer worth $200,000 after purchasing an additional 104 shares during the period. Finally, North Star Investment Management Corp. increased its holdings in the Alibaba Group by 6.4% in the fourth quarter. North Star Investment Management Corp. now owns 1,819 shares of the specialty retailer worth $216,000 after purchasing an additional 109 shares during the period. 17.39% of the shares are held by hedge funds and other institutional investors.
Alibaba Group Company Profile (Get a rating)
Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach for merchants, brands, retailers and other businesses to engage with their users and customers in the People’s Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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