Alibaba Group (NYSE:BABA) Price Target Cut to $193.00 by Analysts at Nomura

Alibaba Group (NYSE:BABAGet Free Report) had its target price cut by Nomura from $215.00 to $193.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Nomura’s price objective would indicate a potential upside of 12.88% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Arete Research set a $172.00 target price on shares of Alibaba Group in a report on Tuesday, December 9th. Citigroup boosted their price objective on shares of Alibaba Group from $218.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Sanford C. Bernstein dropped their target price on shares of Alibaba Group from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Wednesday, November 26th. Zacks Research cut Alibaba Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, CLSA upped their price target on Alibaba Group from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Seventeen equities research analysts have rated the stock with a Buy rating, three have given 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 an average target price of $190.68.

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Alibaba Group Trading Up 0.6%

Shares of NYSE BABA traded up $1.08 during midday trading on Monday, reaching $170.98. The company had a trading volume of 12,573,248 shares, compared to its average volume of 17,281,492. The firm’s fifty day moving average price is $155.94 and its 200-day moving average price is $147.13. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.23. Alibaba Group has a one year low of $81.82 and a one year high of $192.67. The stock has a market cap of $407.98 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 3.56 and a beta of 0.37.

Hedge Funds Weigh In On Alibaba Group

Several large investors have recently made changes to their positions in the business. Ameriflex Group Inc. increased its position in Alibaba Group by 101.4% during the 3rd quarter. Ameriflex Group Inc. now owns 143 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 72 shares in the last quarter. Mather Group LLC. bought a new position in shares of Alibaba Group during the third quarter valued at $30,000. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Alibaba Group in the 3rd quarter worth about $30,000. NBT Bank N A NY boosted its stake in Alibaba Group by 231.5% in the 3rd 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 in the last quarter. Finally, Palisade Asset Management LLC purchased a new stake in Alibaba Group during the 3rd quarter valued at about $37,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Key Alibaba Group News

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About Alibaba Group

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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.

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