Alibaba Group (NYSE:BABA) Stock Rating Upgraded by Zacks Research

Key Points

• Alibaba Group has received an upgrade from Zacks Research, moving from a "strong sell" to a "hold" rating, indicating a more favorable outlook for the stock.
• Multiple analysts have increased their target prices for Alibaba, with Robert W. Baird raising it to $153.00 and Morgan Stanley setting it at $180.00.
• Institutional investors have shown significant interest in Alibaba, with some increasing their holdings by over 1,600% in recent quarters.

Alibaba Group (NYSE:BABA - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on BABA. Robert W. Baird raised their target price on shares of Alibaba Group from $142.00 to $153.00 and gave the stock an "outperform" rating in a report on Tuesday, September 2nd. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a report on Wednesday, May 14th. Sanford C. Bernstein restated an "outperform" rating and issued a $160.00 target price on shares of Alibaba Group in a report on Saturday, August 30th. Arete Research upgraded shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, Bank of America lifted their price objective on shares of Alibaba Group from $135.00 to $152.00 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 given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $167.40.

Alibaba Group Stock Performance

NYSE:BABA opened at $143.86 on Tuesday. The stock's fifty day moving average is $121.47 and its 200 day moving average is $122.30. The firm has a market capitalization of $342.99 billion, a PE ratio of 16.73, a PEG ratio of 2.05 and a beta of 0.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. Alibaba Group has a fifty-two week low of $80.06 and a fifty-two week high of $148.43.

Institutional Investors Weigh In On Alibaba Group

Several large investors have recently modified their holdings of BABA. Brighton Jones LLC raised its holdings 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. Captrust Financial Advisors raised its holdings in shares of Alibaba Group by 5.0% in the 4th quarter. Captrust Financial Advisors now owns 11,200 shares of the specialty retailer's stock valued at $950,000 after purchasing an additional 536 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Alibaba Group by 11.2% in the 4th quarter. Focus Partners Wealth now owns 14,537 shares of the specialty retailer's stock valued at $1,254,000 after purchasing an additional 1,464 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Alibaba Group by 15.0% in the 4th quarter. Quantinno Capital Management LP now owns 22,612 shares of the specialty retailer's stock valued at $1,917,000 after purchasing an additional 2,953 shares in the last quarter. Finally, Point72 Hong Kong Ltd raised its holdings in shares of Alibaba Group by 1,632.3% in the 4th quarter. Point72 Hong Kong Ltd now owns 545,257 shares of the specialty retailer's stock valued at $46,232,000 after purchasing an additional 513,781 shares in the last quarter. Institutional investors own 13.47% of the company's stock.

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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