Alibaba Group Holding Ltd (BABA) Receives $231.66 Average Price Target from Brokerages
Shares of Alibaba Group Holding Ltd (NYSE:BABA) have been assigned an average rating of “Buy” from the thirty-three ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $231.66.
BABA has been the subject of a number of recent research reports. ValuEngine raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday, May 4th. KeyCorp increased their target price on Alibaba Group from $219.00 to $235.00 and gave the stock an “overweight” rating in a report on Monday, May 7th. Oppenheimer increased their target price on Alibaba Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, May 7th. Stifel Nicolaus increased their target price on Alibaba Group from $260.00 to $262.00 and gave the stock a “buy” rating in a report on Monday, May 7th. Finally, Benchmark reissued a “buy” rating and issued a $245.00 target price on shares of Alibaba Group in a report on Monday, May 7th.
Shares of BABA traded down $2.33 during mid-day trading on Wednesday, reaching $177.68. The company had a trading volume of 14,674,000 shares, compared to its average volume of 18,985,639. Alibaba Group has a twelve month low of $153.10 and a twelve month high of $211.70. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The stock has a market cap of $461.03 billion, a PE ratio of 44.19, a PEG ratio of 1.15 and a beta of 2.49.
About Alibaba Group
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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