Alibaba Group (NYSE:BABA) Upgraded at Zacks Research

Zacks Research upgraded shares of Alibaba Group (NYSE:BABA) from a strong sell rating to a hold rating in a report released on Tuesday,Zacks.com reports.

Several other research firms have also recently weighed in on BABA. Arete Research raised Alibaba Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. UBS Group reissued a “buy” rating and set a $162.00 price objective on shares of Alibaba Group in a research report on Sunday, August 31st. Wall Street Zen cut Alibaba Group from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Sanford C. Bernstein reissued an “outperform” rating and set a $160.00 price objective on shares of Alibaba Group in a research report on Saturday, August 30th. Finally, Mizuho boosted their price objective on Alibaba Group from $149.00 to $159.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $167.40.

Alibaba Group Price Performance

NYSE BABA opened at $155.55 on Tuesday. Alibaba Group has a twelve month low of $80.06 and a twelve month high of $156.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market capitalization of $370.87 billion, a PE ratio of 18.09, a P/E/G ratio of 2.01 and a beta of 0.11. The stock has a 50-day simple moving average of $122.41 and a 200 day simple moving average of $122.48.

Hedge Funds Weigh In On Alibaba Group

Several large investors have recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC raised its holdings in shares of Alibaba Group by 1,349,768.3% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock worth $5,558,646,000 after buying an additional 49,010,087 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Alibaba Group by 0.7% in the 2nd quarter. Primecap Management Co. CA now owns 20,764,276 shares of the specialty retailer’s stock worth $2,354,877,000 after buying an additional 140,579 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Alibaba Group by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock worth $2,069,144,000 after buying an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Alibaba Group by 43.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock worth $1,136,554,000 after buying an additional 2,584,480 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Alibaba Group by 85.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock worth $1,131,558,000 after buying an additional 3,947,460 shares in the last quarter. 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.