Alibaba Group (NYSE:BABA) Receives "Buy (B-)" Rating from Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "Buy (B-)" rating for Alibaba Group (NYSE:BABA), reflecting positive sentiment from investment analysts.
• Several firms, including Citigroup and Bank of America, have also issued favorable ratings, with Bank of America increasing their price target from $168 to $195.
• Alibaba's stock has seen significant institutional investment, with Kingstone Capital Partners increasing its stake by over 1.3 million percent, indicating strong investor confidence.

Alibaba Group (NYSE:BABA - Get Free Report)'s stock had its "buy (b-)" rating reiterated by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other research firms also recently weighed in on BABA. Citigroup reiterated a "buy" rating on shares of Alibaba Group in a research note on Wednesday, September 24th. Arete Research upgraded shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Bank of America raised their price objective on shares of Alibaba Group from $168.00 to $195.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alibaba Group from $170.00 to $245.00 and gave the company an "overweight" rating in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $184.19.

Alibaba Group Stock Performance

NYSE BABA traded down $0.22 during trading hours on Wednesday, reaching $181.11. 12,717,533 shares of the company were exchanged, compared to its average volume of 21,437,068. The stock has a market capitalization of $431.79 billion, a P/E ratio of 21.07, a P/E/G ratio of 2.21 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. The business's 50 day simple moving average is $143.19 and its 200-day simple moving average is $126.71. Alibaba Group has a 1 year low of $80.06 and a 1 year high of $192.67.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC lifted its stake in Alibaba Group by 1,349,768.3% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer's stock valued at $5,558,646,000 after acquiring an additional 49,010,087 shares during the period. Primecap Management Co. CA lifted its stake in shares of Alibaba Group by 0.7% in the 2nd quarter. Primecap Management Co. CA now owns 20,764,276 shares of the specialty retailer's stock worth $2,354,877,000 after purchasing an additional 140,579 shares during the period. Goldman Sachs Group Inc. raised its stake in Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after acquiring an additional 2,885,154 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Alibaba Group by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock worth $1,136,554,000 after acquiring an additional 2,584,480 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Alibaba Group by 85.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer's stock worth $1,131,558,000 after acquiring an additional 3,947,460 shares during the period. 13.47% of the stock is owned by hedge funds and other institutional investors.

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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