Alibaba Group (NYSE:BABA) Downgraded to “Buy” Rating by StockNews.com

Alibaba Group (NYSE:BABA) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research analysts have also commented on the company. Truist Financial lowered their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Loop Capital reiterated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a research note on Thursday, August 29th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. Barclays dropped their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. Finally, Bank of America lifted their price target on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $87.82 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The firm has a 50-day simple moving average of $95.36 and a 200-day simple moving average of $86.25. The stock has a market capitalization of $209.87 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 0.44 and a beta of 0.30. Alibaba Group has a 52 week low of $66.63 and a 52 week high of $117.82.

Alibaba Group (NYSE:BABA) last issued its earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. During the same period in the previous year, the firm earned $1.82 earnings per share. Alibaba Group’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts predict that Alibaba Group will post 8.44 earnings per share for the current fiscal year.

Institutional Trading of Alibaba Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. TRUE Private Wealth Advisors lifted its position in Alibaba Group by 3.7% in the third quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock valued at $331,000 after purchasing an additional 112 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Alibaba Group by 6.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock worth $228,000 after buying an additional 121 shares in the last quarter. ICA Group Wealth Management LLC raised its position in Alibaba Group by 14.6% during the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after acquiring an additional 128 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Alibaba Group by 4.3% in the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock valued at $361,000 after purchasing an additional 139 shares during the last quarter. Finally, First Trust Direct Indexing L.P. lifted its stake in Alibaba Group by 3.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock valued at $515,000 after buying an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Company Profile

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.