Arete Downgrades Alibaba Group (NYSE:BABA) to Neutral

Alibaba Group (NYSE:BABA) was downgraded by investment analysts at Arete from a “buy” rating to a “neutral” rating in a report released on Tuesday, Marketbeat Ratings reports. They currently have a $153.00 target price on the specialty retailer’s stock. Arete’s price target suggests a potential upside of 33.62% from the stock’s current price.

A number of other brokerages have also issued reports on BABA. Arete Research upgraded shares of Alibaba Group to a “strong-buy” rating in a research note on Friday, February 28th. Sanford C. Bernstein upgraded Alibaba Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. Citigroup reduced their target price on Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Morgan Stanley set a $180.00 price target on Alibaba Group in a report on Wednesday, May 14th. Finally, Robert W. Baird dropped their price target on Alibaba Group from $147.00 to $142.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.13.

Alibaba Group Stock Down 2.1%

Shares of NYSE:BABA opened at $114.50 on Tuesday. Alibaba Group has a 12-month low of $71.80 and a 12-month high of $148.43. The company has a current ratio of 1.55, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a market cap of $273.06 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 0.49 and a beta of 0.22. The company has a fifty day simple moving average of $119.56 and a 200 day simple moving average of $112.50.

Hedge Funds Weigh In On Alibaba Group

Several institutional investors have recently modified their holdings of the company. 1248 Management LLC bought a new position in Alibaba Group in the 1st quarter worth about $26,000. North Ridge Wealth Advisors Inc. acquired a new position in shares of Alibaba Group during the first quarter worth approximately $26,000. Summit Securities Group LLC boosted its position in shares of Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after buying an additional 59,000 shares during the period. Ransom Advisory Ltd bought a new position in Alibaba Group in the 1st quarter worth approximately $26,000. Finally, Hazlett Burt & Watson Inc. increased its position in Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 196 shares during the period. Institutional investors own 13.47% of the company’s stock.

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.