Alibaba Group (BABA) Stock Rating Lowered by Zacks Investment Research

Alibaba Group (NYSE:BABA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Alibaba's solid growth in the company’s core e-commerce business, strong growth in metrics and international strength help it to generate significant revenues. Other drivers include strong mobile  strength. Estimates have been going up ahead of the company's fiscal second quarter earnings release. The company has positive record of earnings surprises in recent quarters. Also, on a 12-month basis, the stock has outperformed the industry it belongs to. Alibaba’s strong core e-commerce business, its continued efforts to develop new products, international growth opportunities, strong financial position and growing cloud computing services are positives. However, macro headwinds, continued investments and increasing competition from Tencent Holdings and Baidu remain the overhangs.”

BABA has been the topic of a number of other reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 price target on shares of Alibaba Group in a research report on Sunday, October 1st. Vetr downgraded Alibaba Group from a “strong-buy” rating to a “buy” rating and set a $199.42 price target on the stock. in a research report on Wednesday, October 4th. Jefferies Group reaffirmed a “buy” rating and set a $160.00 price target on shares of Alibaba Group in a research report on Thursday, September 21st. reaffirmed a “buy” rating and set a $204.00 price target (up from $184.00) on shares of Alibaba Group in a research report on Tuesday, October 10th. Finally, KeyCorp reissued a “buy” rating on shares of Alibaba Group in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $185.14.

Shares of Alibaba Group (BABA) traded up $1.71 during trading hours on Wednesday, reaching $185.71. 19,470,201 shares of the company were exchanged, compared to its average volume of 23,169,633. The company has a market capitalization of $482,520.00, a P/E ratio of 51.30, a price-to-earnings-growth ratio of 1.39 and a beta of 2.52. Alibaba Group has a 52 week low of $91.64 and a 52 week high of $191.75. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21.

Hedge funds and other institutional investors have recently made changes to their positions in the company. AJO LP boosted its position in shares of Alibaba Group by 55.5% during the 2nd quarter. AJO LP now owns 132,529 shares of the specialty retailer’s stock worth $18,673,000 after purchasing an additional 47,324 shares during the period. AXA boosted its position in Alibaba Group by 8.8% in the 3rd quarter. AXA now owns 802,486 shares of the specialty retailer’s stock valued at $138,597,000 after buying an additional 64,589 shares during the period. Dymon Asia Capital Ltd. purchased a new position in Alibaba Group in the 3rd quarter valued at approximately $1,917,000. Coldstream Capital Management Inc. boosted its position in Alibaba Group by 39.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,817 shares of the specialty retailer’s stock valued at $487,000 after buying an additional 802 shares during the period. Finally, Pitcairn Co. acquired a new stake in shares of Alibaba Group in the 3rd quarter valued at $3,218,000. Institutional investors and hedge funds own 37.94% of the company’s stock.

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Alibaba Group Company Profile

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

Analyst Recommendations for Alibaba Group (NYSE:BABA)

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