Alibaba Group (NYSE:BABA) Rating Lowered to “Hold” at Arete Research

Alibaba Group (NYSE:BABA) was downgraded by equities research analysts at Arete Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Mizuho dropped their target price on shares of Alibaba Group from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. Robert W. Baird dropped their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an “outperform” rating on the stock in a report on Friday, May 16th. Benchmark reduced their target price on shares of Alibaba Group from $190.00 to $176.00 and set a “buy” rating for the company in a research note on Friday, May 16th. Arete lowered Alibaba Group from a “buy” rating to a “neutral” rating and set a $153.00 price target on the stock. in a research note on Tuesday. Finally, Loop Capital set a $176.00 price target on Alibaba Group in a report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $154.13.

Alibaba Group Stock Performance

BABA opened at $116.95 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $119.41 and its two-hundred day moving average price is $112.49. The firm has a market capitalization of $278.91 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 0.46 and a beta of 0.22. Alibaba Group has a 12-month low of $71.80 and a 12-month high of $148.43.

Hedge Funds Weigh In On Alibaba Group

Institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in shares of Alibaba Group by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock worth $2,069,144,000 after buying an additional 2,885,154 shares in the last quarter. Appaloosa LP increased its holdings in Alibaba Group by 18.4% during the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock valued at $1,004,181,000 after purchasing an additional 1,843,158 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings 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 valued at $1,136,554,000 after purchasing an additional 2,584,480 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Alibaba Group by 85.6% in 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 valued at $1,131,558,000 after purchasing an additional 3,947,460 shares during the last quarter. Finally, Norges Bank acquired a new position in Alibaba Group in the fourth quarter worth $585,479,000. 13.47% of the stock is owned by 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.