Alibaba Group (NYSE:BABA) Hits New 12-Month High After Analyst Upgrade

Key Points

• Alibaba Group reached a new 52-week high of $151.10 after an analyst upgrade from Zacks Research, indicating a shift from a strong sell to a hold rating.
• Several firms have boosted their price targets for Alibaba, with Morgan Stanley setting a target of $180 and Benchmark raising it to $195, suggesting a positive outlook for the company.
• The company's stock has increased by 3.8%, and it holds a market cap of $356.31 billion, bolstered by strong institutional interest, as 13.47% of the stock is owned by institutional investors.

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) hit a new 52-week high during trading on Thursday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock traded as high as $151.10 and last traded at $149.95, with a volume of 11681678 shares trading hands. The stock had previously closed at $143.93.

Several other research firms also recently weighed in on BABA. Morgan Stanley set a $180.00 price objective on Alibaba Group in a report on Wednesday, May 14th. Mizuho raised their price objective on Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. Loop Capital set a $176.00 price objective on Alibaba Group in a report on Friday, May 16th. Jefferies Financial Group raised their price objective on Alibaba Group from $165.00 to $178.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Benchmark raised their price objective on Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Alibaba Group presently has an average rating of "Buy" and a consensus target price of $167.40.

Institutional Trading of Alibaba Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BABA. Accent Capital Management LLC increased its stake in Alibaba Group by 5.5% in the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock valued at $209,000 after acquiring an additional 82 shares during the last quarter. Cary Street Partners Financial LLC boosted its holdings in shares of Alibaba Group by 1.8% during the second quarter. Cary Street Partners Financial LLC now owns 4,757 shares of the specialty retailer's stock worth $539,000 after purchasing an additional 83 shares during the period. Greenleaf Trust raised its stake in Alibaba Group by 1.0% in the first quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock worth $1,102,000 after buying an additional 85 shares in the last quarter. Marcum Wealth LLC increased its stake in shares of Alibaba Group by 3.2% during the first quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock valued at $363,000 after purchasing an additional 86 shares in the last quarter. Finally, Wedbush Securities Inc. increased its stake in shares of Alibaba Group by 2.1% during the second quarter. Wedbush Securities Inc. now owns 4,237 shares of the specialty retailer's stock valued at $480,000 after purchasing an additional 88 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Up 3.8%

The company has a market cap of $356.31 billion, a P/E ratio of 17.42, a P/E/G ratio of 2.05 and a beta of 0.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The company's 50-day moving average is $121.47 and its two-hundred day moving average is $122.30.

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.

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