Alibaba Group (NYSE:BABA) Upgraded by Arete to “Buy” Rating

Alibaba Group (NYSE:BABA) was upgraded by research analysts at Arete from a “neutral” rating to a “buy” rating in a report released on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $190.00 price objective on the specialty retailer’s stock. Arete’s price target points to a potential upside of 17.17% from the stock’s current price.

BABA has been the topic of several other reports. Nomura lowered their price target on shares of Alibaba Group from $215.00 to $193.00 and set a “buy” rating on the stock in a research note on Monday, January 12th. Morgan Stanley decreased their price objective on Alibaba Group from $200.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, January 8th. Sanford C. Bernstein dropped their target price on Alibaba Group from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Wednesday, November 26th. Arete Research set a $190.00 price target on Alibaba Group in a research note on Tuesday. Finally, Loop Capital set a $140.00 price target on Alibaba Group in a research report on Tuesday, January 6th. Eighteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.58.

Alibaba Group Price Performance

Shares of BABA opened at $162.15 on Wednesday. The company has a 50 day moving average of $156.02 and a 200-day moving average of $148.93. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $387.13 billion, a P/E ratio of 22.40, a P/E/G ratio of 3.56 and a beta of 0.37. Alibaba Group has a twelve month low of $84.42 and a twelve month high of $192.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Kaizen Financial Strategies increased its holdings in shares of Alibaba Group by 31.3% during the 4th quarter. Kaizen Financial Strategies now owns 2,100 shares of the specialty retailer’s stock worth $308,000 after acquiring an additional 500 shares during the last quarter. Trueblood Wealth Management LLC boosted its position in Alibaba Group by 3.4% during the fourth quarter. Trueblood Wealth Management LLC now owns 2,740 shares of the specialty retailer’s stock worth $402,000 after purchasing an additional 89 shares during the period. Leo Wealth LLC increased its holdings in shares of Alibaba Group by 0.8% in the fourth quarter. Leo Wealth LLC now owns 14,709 shares of the specialty retailer’s stock valued at $2,156,000 after purchasing an additional 113 shares during the last quarter. Sowell Financial Services LLC lifted its stake in shares of Alibaba Group by 19.0% during the 4th quarter. Sowell Financial Services LLC now owns 6,944 shares of the specialty retailer’s stock worth $1,018,000 after buying an additional 1,109 shares during the last quarter. Finally, Ethos Financial Group LLC bought a new stake in shares of Alibaba Group during the 4th quarter worth about $209,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Company Profile

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.