Alibaba Group (NYSE:BABA) Downgraded to “Hold” Rating by StockNews.com

Alibaba Group (NYSE:BABA) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

BABA has been the subject of several other research reports. Bank of America raised their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Truist Financial dropped their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Robert W. Baird lifted their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group reiterated a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Finally, Mizuho lifted their price target on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $114.53.

Alibaba Group Stock Performance

Shares of BABA stock traded down $3.64 during mid-day trading on Tuesday, hitting $91.78. The stock had a trading volume of 21,596,943 shares, compared to its average volume of 17,659,469. Alibaba Group has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The firm has a market cap of $219.81 billion, a PE ratio of 24.03, a PEG ratio of 0.42 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The company’s 50-day simple moving average is $97.49 and its 200-day simple moving average is $85.28.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter last year, the business earned $2.47 earnings per share. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts anticipate that Alibaba Group will post 8.51 earnings per share for the current year.

Hedge Funds Weigh In On Alibaba Group

Large investors have recently bought and sold shares of the stock. First Command Advisory Services Inc. bought a new position in shares of Alibaba Group during the 2nd quarter valued at about $25,000. GPS Wealth Strategies Group LLC boosted its holdings in shares of Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after buying an additional 209 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Alibaba Group in the second quarter worth about $27,000. Concord Wealth Partners boosted its holdings in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares during the period. Finally, Highline Wealth Partners LLC acquired a new position in shares of Alibaba Group in the third quarter worth about $36,000. Institutional investors and hedge funds 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.