Alibaba Group (BABA) Earns Buy Rating from Analysts at HSBC

HSBC assumed coverage on shares of Alibaba Group (NYSE:BABA) in a report issued on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating on the specialty retailer’s stock.

BABA has been the topic of a number of other reports. Zacks Investment Research downgraded Alibaba Group from a hold rating to a sell rating in a research note on Tuesday, July 10th. Deutsche Bank set a $196.00 price target on Alibaba Group and gave the stock a buy rating in a research note on Thursday, August 23rd. JPMorgan Chase & Co. dropped their price target on Alibaba Group from $230.00 to $215.00 and set an overweight rating on the stock in a research note on Friday, August 24th. KeyCorp upgraded Alibaba Group to a buy rating and set a $235.00 price target on the stock in a research note on Monday, July 9th. Finally, Jefferies Financial Group dropped their price target on Alibaba Group to $225.00 and set a buy rating on the stock in a research note on Friday, August 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $228.60.

BABA stock opened at $164.74 on Wednesday. The firm has a market capitalization of $413.52 billion, a PE ratio of 40.88, a PEG ratio of 1.15 and a beta of 2.40. Alibaba Group has a 1 year low of $152.85 and a 1 year high of $211.70. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.26.

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its holdings in Alibaba Group by 8.9% during the second quarter. Bank of New York Mellon Corp now owns 2,811,366 shares of the specialty retailer’s stock valued at $521,591,000 after acquiring an additional 229,005 shares during the period. One Capital Management LLC bought a new stake in Alibaba Group during the second quarter valued at about $1,698,000. InterOcean Capital LLC bought a new stake in Alibaba Group during the second quarter valued at about $371,000. OppenheimerFunds Inc. raised its holdings in Alibaba Group by 8.1% during the second quarter. OppenheimerFunds Inc. now owns 15,778,979 shares of the specialty retailer’s stock valued at $2,927,474,000 after acquiring an additional 1,182,927 shares during the period. Finally, North Star Asset Management Inc. raised its holdings in Alibaba Group by 8.1% during the second quarter. North Star Asset Management Inc. now owns 26,516 shares of the specialty retailer’s stock valued at $4,920,000 after acquiring an additional 1,998 shares during the period. 38.65% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Company Profile

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

See Also: Intrinsic Value

Analyst Recommendations for Alibaba Group (NYSE:BABA)

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