Alibaba Group (NYSE:BABA) Stock Rating Upgraded by StockNews.com

Alibaba Group (NYSE:BABA) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

BABA has been the topic of several other reports. Bank of America boosted their price target on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Mizuho lifted their target price on Alibaba Group from $140.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, March 28th. Benchmark increased their price target on Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Barclays boosted their price target on Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. increased their price objective on Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $148.14.

Alibaba Group Stock Down 2.3 %

BABA stock opened at $129.68 on Thursday. The business has a 50-day moving average of $124.35 and a 200-day moving average of $103.55. Alibaba Group has a fifty-two week low of $68.36 and a fifty-two week high of $148.43. The stock has a market capitalization of $308.02 billion, a P/E ratio of 18.74, a P/E/G ratio of 0.61 and a beta of 0.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing the consensus estimate of $2.84 by ($0.07). The business had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. On average, sell-side analysts anticipate that Alibaba Group will post 7.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

Large investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Alibaba Group in the 4th quarter valued at about $585,479,000. Renaissance Technologies LLC boosted its holdings in shares of 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 acquiring an additional 2,024,640 shares during the period. Appaloosa LP grew its position in shares of Alibaba Group by 18.4% in the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock valued at $1,004,181,000 after purchasing an additional 1,843,158 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Alibaba Group by 95.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer’s stock worth $179,087,000 after purchasing an additional 1,030,999 shares during the period. Finally, Voloridge Investment Management LLC acquired a new stake in Alibaba Group during the 4th quarter worth approximately $73,727,000. 13.47% of the stock is owned by institutional investors.

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.