Alibaba Group (NYSE:BABA) Raised to Buy at Erste Group Bank

Key Points

• Alibaba Group was upgraded to a "buy" rating by Erste Group Bank, indicating increased confidence in the stock's performance.
• Multiple brokerages, including Citigroup and Jefferies Financial Group, have issued buy ratings and increased their price targets for Alibaba Group, with the consensus showing high investor interest.
• As of the latest report, Alibaba Group has a market capitalization of $451.50 billion and is showing robust growth potential, with institutional investors owning 13.47% of the stock.

Alibaba Group (NYSE:BABA - Get Free Report) was upgraded by analysts at Erste Group Bank from a "hold" rating to a "buy" rating in a research report issued on Friday,Finviz reports.

Several other brokerages have also weighed in on BABA. Citigroup reiterated a "buy" rating on shares of Alibaba Group in a report on Wednesday, September 24th. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. UBS Group reissued a "buy" rating and set a $162.00 price objective on shares of Alibaba Group in a research note on Sunday, August 31st. Jefferies Financial Group increased their target price on Alibaba Group from $178.00 to $230.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Bank of America lifted their target price on Alibaba Group from $168.00 to $195.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $181.88.

Alibaba Group Price Performance

BABA stock opened at $189.38 on Friday. The stock has a market capitalization of $451.50 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 2.11 and a beta of 0.18. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group has a 52-week low of $80.06 and a 52-week high of $192.67. The stock's fifty day simple moving average is $139.30 and its 200-day simple moving average is $125.85.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in shares of Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after purchasing an additional 981 shares in the last quarter. GAMMA Investing LLC raised its stake in Alibaba Group by 13,483.0% during the first quarter. GAMMA Investing LLC now owns 19,967 shares of the specialty retailer's stock valued at $2,640,000 after buying an additional 19,820 shares in the last quarter. Merit Financial Group LLC lifted its holdings in Alibaba Group by 21.7% during the 1st quarter. Merit Financial Group LLC now owns 10,661 shares of the specialty retailer's stock worth $1,410,000 after buying an additional 1,903 shares during the last quarter. RFG Advisory LLC acquired a new position in shares of Alibaba Group in the 1st quarter worth approximately $643,000. Finally, Diligent Investors LLC acquired a new position in shares of Alibaba Group in the 1st quarter worth approximately $288,000. 13.47% of the stock is owned by institutional investors and hedge funds.

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.

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