Arete Upgrades Alibaba Group (NYSE:BABA) to “Buy”

Alibaba Group (NYSE:BABA) was upgraded by equities research analysts at Arete from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, Marketbeat Ratings reports. The firm currently has a $152.00 price objective on the specialty retailer’s stock. Arete’s price target would suggest a potential upside of 16.03% from the stock’s current price.

BABA has been the topic of a number of other research reports. Benchmark upped their price objective on Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday. Bank of America upped their price objective on shares of Alibaba Group from $135.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday. Jefferies Financial Group set a $165.00 target price on shares of Alibaba Group and gave the stock a “buy” rating in a research note on Friday, August 29th. UBS Group reiterated a “buy” rating and set a $162.00 target price on shares of Alibaba Group in a research note on Sunday. Finally, Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a report on Wednesday, May 14th. One research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $163.53.

Alibaba Group Trading Down 4.0%

BABA opened at $131.00 on Wednesday. The stock has a market capitalization of $312.34 billion, a PE ratio of 15.23, a P/E/G ratio of 1.80 and a beta of 0.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.45. Alibaba Group has a one year low of $80.06 and a one year high of $148.43. The business’s 50 day moving average price is $119.16 and its 200 day moving average price is $122.06.

Hedge Funds Weigh In On Alibaba Group

Hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in shares of Alibaba Group by 52.1% in the 1st quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer’s stock valued at $303,215,000 after purchasing an additional 785,494 shares during the last quarter. Causeway Capital Management LLC increased its position in shares of Alibaba Group by 42.6% in the 1st quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer’s stock worth $179,305,000 after purchasing an additional 404,842 shares during the last quarter. WCM Investment Management LLC bought a new stake in shares of Alibaba Group in the 1st quarter worth about $4,074,000. KMG Fiduciary Partners LLC bought a new stake in shares of Alibaba Group in the 1st quarter worth about $1,948,000. Finally, Avaii Wealth Management LLC acquired a new position in shares of Alibaba Group in the 1st quarter valued at about $563,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

About Alibaba Group

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.