Alibaba Group (NYSE:BABA) Cut to Hold at Freedom Capital

Freedom Capital downgraded shares of Alibaba Group (NYSE:BABAFree Report) from a strong-buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

BABA has been the subject of a number of other research reports. Susquehanna boosted their price target on Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research report on Thursday, September 18th. CLSA lifted their price objective on Alibaba Group from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 2nd. Wall Street Zen downgraded shares of Alibaba Group from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Citigroup raised their price target on shares of Alibaba Group from $218.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Finally, Loop Capital set a $140.00 price target on shares of Alibaba Group in a research report on Tuesday. Seventeen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $191.84.

Read Our Latest Stock Report on Alibaba Group

Alibaba Group Trading Up 5.3%

Shares of BABA stock opened at $154.60 on Tuesday. The firm’s 50-day simple moving average is $156.19 and its 200-day simple moving average is $145.54. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46. Alibaba Group has a 1-year low of $80.06 and a 1-year high of $192.67. The firm has a market cap of $368.89 billion, a P/E ratio of 21.35, a PEG ratio of 2.27 and a beta of 0.37.

Institutional Trading of Alibaba Group

Institutional investors and hedge funds have recently modified their holdings of the business. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Alibaba Group by 1,349,768.3% during the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock valued at $5,558,646,000 after acquiring an additional 49,010,087 shares during the period. Primecap Management Co. CA boosted its position in shares of Alibaba Group by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 20,764,276 shares of the specialty retailer’s stock valued at $2,354,877,000 after purchasing an additional 140,579 shares in the last quarter. Capital World Investors grew its position in Alibaba Group by 1,074.9% in the third quarter. Capital World Investors now owns 6,038,318 shares of the specialty retailer’s stock worth $1,079,229,000 after buying an additional 5,524,354 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Alibaba Group by 0.5% during the third quarter. Fisher Asset Management LLC now owns 5,293,597 shares of the specialty retailer’s stock worth $946,125,000 after purchasing an additional 26,156 shares during the period. Finally, Norges Bank acquired a new stake in shares of Alibaba Group during the second quarter valued at approximately $527,243,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group News Summary

Here are the key news stories impacting Alibaba Group this week:

About Alibaba Group

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Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

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Analyst Recommendations for Alibaba Group (NYSE:BABA)

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