Alibaba Group (NYSE:BABA) Cut to Hold at Erste Group Bank

Erste Group Bank lowered shares of Alibaba Group (NYSE:BABA) from a buy rating to a hold rating in a report released on Wednesday morning, Marketbeat.com reports.

BABA has been the topic of several other reports. Macquarie Infrastructure reaffirmed an “outperform” rating on shares of Alibaba Group in a report on Tuesday, November 25th. Morgan Stanley lowered their target price on Alibaba Group from $200.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Rosenblatt Securities set a $195.00 price target on Alibaba Group in a research report on Wednesday, November 26th. Mizuho set a $195.00 price target on Alibaba Group in a report on Wednesday, October 22nd. Finally, Benchmark reaffirmed a “buy” rating and set a $195.00 price objective on shares of Alibaba Group in a research note on Tuesday, November 25th. Seventeen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $195.17.

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $154.60 on Wednesday. Alibaba Group has a twelve month low of $95.73 and a twelve month high of $192.67. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.23. The company has a market cap of $369.10 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 3.38 and a beta of 0.39. The company’s 50 day moving average is $158.99 and its 200 day moving average is $156.24.

Institutional Investors Weigh In On Alibaba Group

Large investors have recently bought and sold shares of the company. Ameriflex Group Inc. boosted its stake in shares of Alibaba Group by 101.4% in the third quarter. Ameriflex Group Inc. now owns 143 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 72 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Alibaba Group in the 3rd quarter worth approximately $30,000. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Alibaba Group during the third quarter worth $30,000. NBT Bank N A NY grew its holdings in shares of Alibaba Group by 231.5% in the third quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 125 shares in the last quarter. Finally, Costello Asset Management INC acquired a new position in Alibaba Group during the 4th quarter worth $34,000. 13.47% of the stock is currently owned by hedge funds and other 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.