Alibaba Group (BABA) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Alibaba Group (NYSE:BABA) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

According to Zacks, “Alibaba's solid growth in the company’s core e-commerce business, strong growth in metrics and international strength help it to generate significant revenues. Other drivers include strong mobile  strength. Estimates have been going up ahead of the company's fiscal second quarter earnings release. The company has positive record of earnings surprises in recent quarters. Also, on a 12-month basis, the stock has outperformed the industry it belongs to. Alibaba’s strong core e-commerce business, its continued efforts to develop new products, international growth opportunities, strong financial position and growing cloud computing services are positives. However, macro headwinds, continued investments and increasing competition from Tencent Holdings and Baidu remain the overhangs.”

Other equities analysts have also issued research reports about the stock. Credit Suisse Group reissued an outperform rating and issued a $220.00 price objective on shares of Alibaba Group in a research report on Tuesday, October 3rd. JPMorgan Chase & Co. reissued a buy rating and issued a $200.00 price objective on shares of Alibaba Group in a research report on Wednesday, September 6th. Cantor Fitzgerald began coverage on shares of Alibaba Group in a research report on Friday, September 22nd. They issued an overweight rating and a $213.00 price objective for the company. Jefferies Group reissued a buy rating and issued a $160.00 price objective on shares of Alibaba Group in a research report on Thursday, September 21st. Finally, Wells Fargo & Co began coverage on shares of Alibaba Group in a research report on Tuesday, September 26th. They issued an outperform rating and a $225.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Alibaba Group currently has an average rating of Buy and an average price target of $185.14.

Alibaba Group (NYSE BABA) opened at $190.70 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.21. The stock has a market cap of $488,410.00, a PE ratio of 52.68, a price-to-earnings-growth ratio of 1.39 and a beta of 2.52. Alibaba Group has a 52-week low of $93.00 and a 52-week high of $191.75.

Hedge funds have recently modified their holdings of the stock. Private Asset Management Inc. grew its stake in Alibaba Group by 11.0% during the fourth quarter. Private Asset Management Inc. now owns 30,419 shares of the specialty retailer’s stock worth $5,245,000 after buying an additional 3,014 shares during the period. Atlantic Trust Group LLC grew its stake in Alibaba Group by 314.5% during the third quarter. Atlantic Trust Group LLC now owns 85,197 shares of the specialty retailer’s stock worth $14,715,000 after buying an additional 64,642 shares during the period. AXA grew its stake in Alibaba Group by 8.8% during the third quarter. AXA now owns 802,486 shares of the specialty retailer’s stock worth $138,597,000 after buying an additional 64,589 shares during the period. Wagner Bowman Management Corp purchased a new stake in Alibaba Group during the third quarter worth approximately $202,000. Finally, Shelton Capital Management purchased a new stake in Alibaba Group during the third quarter worth approximately $1,591,000. 37.94% of the stock is owned by hedge funds and other institutional investors.

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Alibaba Group Company Profile

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

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