Erste Group Bank Upgrades Alibaba Group (NYSE:BABA) to Buy

Erste Group Bank upgraded shares of Alibaba Group (NYSE:BABA) from a hold rating to a buy rating in a research note published on Friday morning, MarketBeat reports.

A number of other analysts have also issued reports on BABA. Barclays lifted their price target on Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. Citigroup reaffirmed a “buy” rating on shares of Alibaba Group in a research note on Wednesday, September 24th. UBS Group reaffirmed a “buy” rating and issued a $162.00 price target on shares of Alibaba Group in a research note on Sunday, August 31st. Robert W. Baird lifted their price target on Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Finally, Jefferies Financial Group lifted their price target on Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Alibaba Group has a consensus rating of “Buy” and a consensus target price of $181.88.

Alibaba Group Stock Down 0.7%

Alibaba Group stock opened at $187.94 on Friday. The stock has a market capitalization of $448.06 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 2.24 and a beta of 0.18. Alibaba Group has a 12 month low of $80.06 and a 12 month high of $192.67. The business has a 50 day simple moving average of $140.65 and a 200-day simple moving average of $126.16. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45.

Hedge Funds Weigh In On Alibaba Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 1248 Management LLC acquired a new position in Alibaba Group during the first quarter worth $26,000. North Ridge Wealth Advisors Inc. acquired a new position in Alibaba Group during the first quarter worth $26,000. Summit Securities Group LLC boosted its stake in 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 last quarter. Ransom Advisory Ltd acquired a new position in Alibaba Group during the first quarter worth $26,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock worth $27,000 after buying an additional 196 shares during the last quarter. Institutional investors and hedge funds 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.