Alibaba Group (NYSE:BABA) Shares Up 3.9% on Analyst Upgrade

by · The Markets Daily

Alibaba Group Holding Limited (NYSE:BABAGet Free Report) was up 3.9% during trading on Wednesday after Arete Research upgraded the stock from a neutral rating to a buy rating. Arete Research now has a $190.00 price target on the stock. Alibaba Group traded as high as $169.87 and last traded at $168.67. Approximately 11,585,258 shares were traded during trading, a decline of 29% from the average daily volume of 16,379,058 shares. The stock had previously closed at $162.39.

A number of other research firms also recently issued reports on BABA. Jefferies Financial Group cut their target price on shares of Alibaba Group from $231.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Zacks Research lowered Alibaba Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Erste Group Bank raised Alibaba Group from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Loop Capital set a $140.00 target price on Alibaba Group in a research report on Tuesday, January 6th. Finally, Morgan Stanley cut their price target on Alibaba Group from $200.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, January 8th. Eighteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and a consensus price target of $192.72.

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Alibaba Group News Roundup

Here are the key news stories impacting Alibaba Group this week:

Hedge Funds Weigh In On Alibaba Group

Institutional investors have recently made changes to their positions in the business. Mainstream Capital Management LLC grew its holdings in Alibaba Group by 5.6% in the 4th quarter. Mainstream Capital Management LLC now owns 8,504 shares of the specialty retailer’s stock valued at $1,247,000 after buying an additional 449 shares during the last quarter. BIP Wealth LLC acquired a new stake in shares of Alibaba Group in the fourth quarter worth $531,000. V2 Financial group LLC raised its stake in Alibaba Group by 21.2% during the 4th quarter. V2 Financial group LLC now owns 24,261 shares of the specialty retailer’s stock valued at $3,556,000 after purchasing an additional 4,247 shares during the last quarter. Azzad Asset Management Inc. ADV acquired a new position in Alibaba Group during the 4th quarter valued at $203,000. Finally, South Shore Capital Advisors bought a new stake in Alibaba Group in the 4th quarter valued at $226,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Up 3.9%

The firm has a 50 day moving average of $156.02 and a 200-day moving average of $148.93. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market capitalization of $402.68 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 3.56 and a beta of 0.37.

Alibaba Group Company Profile

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Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

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