Alibaba Group (NYSE:BABA) Downgraded to Hold Rating by Wall Street Zen

Alibaba Group (NYSE:BABA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

A number of other equities research analysts have also recently commented on BABA. Citigroup lowered their price target on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Loop Capital set a $176.00 price target on shares of Alibaba Group in a report on Friday, May 16th. Mizuho lowered their price target on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a report on Wednesday, May 14th. Finally, Arete Research cut shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $154.13.

Alibaba Group Stock Up 0.2%

Shares of BABA stock traded up $0.18 during trading hours on Friday, reaching $114.11. The company had a trading volume of 12,343,000 shares, compared to its average volume of 19,968,758. Alibaba Group has a 12 month low of $71.80 and a 12 month high of $148.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.48. The business has a fifty day simple moving average of $119.76 and a 200-day simple moving average of $112.82. The company has a market cap of $272.13 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 0.48 and a beta of 0.22.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. North Ridge Wealth Advisors Inc. purchased a new position in Alibaba Group in the first quarter worth $26,000. Summit Securities Group LLC grew its position in Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 59,000 shares in the last quarter. Ransom Advisory Ltd purchased a new position in Alibaba Group in the first quarter worth $26,000. 1248 Management LLC purchased a new position in Alibaba Group in the first quarter worth $26,000. Finally, Hazlett Burt & Watson Inc. grew its position in Alibaba Group by 1,960.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 196 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.