Alibaba Group (NYSE:BABA) Downgraded by Argus to “Hold”

Argus lowered shares of Alibaba Group (NYSE:BABA) from a buy rating to a hold rating in a research note published on Wednesday, Price Targets.com reports.

Other analysts have also recently issued research reports about the stock. Susquehanna Bancshares cut their target price on shares of Alibaba Group from $350.00 to $310.00 and set a positive rating for the company in a research note on Thursday, August 5th. Oppenheimer lowered their price target on shares of Alibaba Group from $310.00 to $300.00 and set an outperform rating on the stock in a research report on Wednesday, August 4th. Barclays initiated coverage on shares of Alibaba Group in a research report on Tuesday, November 2nd. They set an overweight rating and a $275.00 price target on the stock. Benchmark lowered their price target on shares of Alibaba Group from $270.00 to $245.00 and set a buy rating on the stock in a research report on Friday, November 19th. Finally, Needham & Company LLC lowered their price target on shares of Alibaba Group from $330.00 to $230.00 and set a buy rating on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $247.11.

BABA stock opened at $136.52 on Wednesday. The stock has a market capitalization of $370.09 billion, a P/E ratio of 19.59, a P/E/G ratio of 1.20 and a beta of 0.86. The firm has a 50-day simple moving average of $158.79 and a 200-day simple moving average of $185.28. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.12. Alibaba Group has a 52 week low of $131.22 and a 52 week high of $279.33.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, November 18th. The specialty retailer reported $11.20 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $9.74. The business had revenue of $200.69 billion during the quarter, compared to analysts’ expectations of $204.97 billion. Alibaba Group had a net margin of 15.27% and a return on equity of 12.39%. The company’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 earnings per share. On average, analysts expect that Alibaba Group will post 7.52 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in BABA. Delos Wealth Advisors LLC purchased a new stake in Alibaba Group during the 2nd quarter worth approximately $29,000. Community Bank N.A. purchased a new stake in shares of Alibaba Group in the 3rd quarter valued at approximately $30,000. Consolidated Planning Corp purchased a new stake in shares of Alibaba Group in the 3rd quarter valued at approximately $30,000. Mine & Arao Wealth Creation & Management LLC. increased its position in shares of Alibaba Group by 150.0% in the 3rd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 250 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 150 shares during the last quarter. Finally, Cowen Prime Advisors LLC purchased a new stake in shares of Alibaba Group in the 2nd quarter valued at approximately $45,000. 23.71% of the stock is currently owned by hedge funds and other institutional investors.

About Alibaba Group

Alibaba Group Holding Ltd. engages in providing online and mobile marketplaces in retail and wholesale trade. It operates through the following business segments: Core Commerce; Cloud Computing; Digital Media & Entertainment; and Innovation Initiatives and Others. The Core Commerce segment comprises of platforms operating in retail and wholesale.

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Analyst Recommendations for Alibaba Group (NYSE:BABA)

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