Wall Street Zen Upgrades Alibaba Group (NYSE:BABA) to “Buy”

Alibaba Group (NYSE:BABA) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

BABA has been the topic of a number of other reports. Loop Capital set a $176.00 price objective on Alibaba Group in a report on Friday, May 16th. Barclays raised their price objective on Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Citigroup cut their price objective on Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. raised their price objective on Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Morgan Stanley set a $180.00 price objective on Alibaba Group in a report on Wednesday, May 14th. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $154.21.

Alibaba Group Stock Performance

NYSE BABA opened at $112.71 on Friday. The business’s 50-day moving average price is $118.35 and its 200 day moving average price is $110.93. Alibaba Group has a twelve month low of $71.80 and a twelve month high of $148.43. The company has a market capitalization of $268.93 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 0.61 and a beta of 0.22. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BABA. Norges Bank bought a new position in Alibaba Group during the 4th quarter worth approximately $585,479,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Alibaba Group by 3,214.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer’s stock worth $578,992,000 after buying an additional 4,246,564 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of 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 worth $1,131,558,000 after purchasing an additional 3,947,460 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Alibaba Group by 22.6% in 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 purchasing an additional 2,885,154 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Alibaba Group by 43.0% in 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 purchasing an additional 2,584,480 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

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.