StockNews.com Downgrades Alibaba Group (NYSE:BABA) to Buy

StockNews.com downgraded shares of Alibaba Group (NYSE:BABA - Free Report) from a strong-buy rating to a buy rating in a research note published on Saturday.

Other equities analysts have also issued research reports about the stock. Susquehanna reduced their target price on shares of Alibaba Group from $135.00 to $130.00 and set a "positive" rating on the stock in a report on Monday, August 19th. Bank of America lifted their price objective on Alibaba Group from $106.00 to $124.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Truist Financial dropped their target price on Alibaba Group from $110.00 to $100.00 and set a "buy" rating for the company in a report on Friday, August 16th. Sanford C. Bernstein lifted their price target on Alibaba Group from $80.00 to $85.00 and gave the stock a "market perform" rating in a research note on Friday, August 16th. Finally, Benchmark reissued a "buy" rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $114.07.

Alibaba Group Price Performance

NYSE BABA traded down $1.41 during trading hours on Friday, reaching $87.82. 11,608,633 shares of the stock traded hands, compared to its average volume of 17,470,092. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a 50 day simple moving average of $94.82 and a two-hundred day simple moving average of $86.30. Alibaba Group has a 1 year low of $66.63 and a 1 year high of $117.82. The company has a market cap 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 (NYSE:BABA - Get Free Report) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The company had revenue of $236.50 billion for the quarter, compared to analysts' expectations of $239.45 billion. During the same period last year, the firm posted $1.82 EPS. Alibaba Group's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts predict that Alibaba Group will post 8.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

Several hedge funds have recently bought and sold shares of BABA. First Command Advisory Services Inc. bought a new position in shares of Alibaba Group during the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Alibaba Group during the 2nd quarter valued at $27,000. Concord Wealth Partners increased its holdings in shares of Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 155 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of Alibaba Group in the third quarter worth $36,000. Finally, Asset Dedication LLC lifted its holdings in shares of Alibaba Group by 315.0% during the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer's stock valued at $38,000 after purchasing an additional 400 shares in the last quarter. 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.