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 issued on Tuesday.

Several other brokerages also recently issued reports on BABA. Morgan Stanley restated an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a research note on Friday, August 23rd. Bank of America raised their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Benchmark restated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Friday, August 16th. 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 research note on Tuesday. Finally, Truist Financial decreased their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $114.53.

Alibaba Group Stock Down 3.8 %

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

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. During the same quarter last year, the firm posted $2.47 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts anticipate that Alibaba Group will post 8.51 earnings per share for the current fiscal year.

Institutional Trading of Alibaba Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its holdings in Alibaba Group by 6.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock worth $228,000 after purchasing an additional 121 shares during the last quarter. ICA Group Wealth Management LLC grew its position in shares of Alibaba Group by 14.6% during the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after buying an additional 128 shares during the period. Cornerstone Wealth Management LLC grew its position in shares of Alibaba Group by 4.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock worth $361,000 after buying an additional 139 shares during the period. First Trust Direct Indexing L.P. grew its position in shares of Alibaba Group by 3.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock worth $515,000 after buying an additional 143 shares during the period. Finally, Concord Wealth Partners grew its position in shares of Alibaba Group by 155.0% during the 3rd 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. 13.47% of the stock is owned by institutional investors.

About Alibaba Group

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.