Alibaba Group Holding Ltd. (NYSE:BABA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday.

According to Zacks, “Alibaba Group is a Chinese e-Commerce giant which caters mainly to its native market. Alibaba Group’s fiscal first-quarter results exceeded the Zacks Consensus Estimate. The solid growth in Alibaba’s China retail and mobile business as well as strength across most of the core operating metrics aided the results. The company’s dominance in the mobile commerce market, its continued efforts to develop new products, international growth opportunities and strong financial position are all positives. However, macro headwinds, continued investments and increasing competition from Tencent Holdings and Baidu remain the overhangs.”

Several other research analysts have also recently weighed in on BABA. Evercore ISI upped their price objective on shares of Alibaba Group Holding from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Alibaba Group Holding in a research report on Wednesday, June 15th. Brean Capital upped their price objective on shares of Alibaba Group Holding from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. RBC Capital Markets upped their price objective on shares of Alibaba Group Holding from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, August 12th. Finally, MKM Partners restated a “buy” rating and issued a $95.00 price objective on shares of Alibaba Group Holding in a research report on Wednesday, June 15th. Three equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $110.89.

Analyst Recommendations for Alibaba Group Holding (NYSE:BABA)

Shares of Alibaba Group Holding (NYSE:BABA) traded down 2.312% on Thursday, hitting $101.224. 13,426,785 shares of the stock were exchanged. The company has a 50 day moving average of $102.81 and a 200 day moving average of $86.43. Alibaba Group Holding has a 52-week low of $59.25 and a 52-week high of $109.87. The company has a market cap of $250.33 billion, a price-to-earnings ratio of 35.882 and a beta of 2.95.

Alibaba Group Holding (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.11. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Alibaba Group Holding had a net margin of 42.95% and a return on equity of 12.31%. During the same period in the prior year, the business earned $0.59 earnings per share. Equities research analysts forecast that Alibaba Group Holding will post $3.29 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. boosted its position in Alibaba Group Holding by 1.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,407 shares of the company’s stock worth $191,000 after buying an additional 31 shares in the last quarter. Wedbush Securities Inc. boosted its position in Alibaba Group Holding by 1.0% in the second quarter. Wedbush Securities Inc. now owns 3,198 shares of the company’s stock worth $254,000 after buying an additional 33 shares in the last quarter. Cornerstone Advisors Inc. boosted its position in Alibaba Group Holding by 2.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,594 shares of the company’s stock worth $127,000 after buying an additional 39 shares in the last quarter. Integrated Wealth Management boosted its position in Alibaba Group Holding by 2.1% in the second quarter. Integrated Wealth Management now owns 3,376 shares of the company’s stock worth $268,000 after buying an additional 70 shares in the last quarter. Finally, BOKF NA boosted its position in Alibaba Group Holding by 0.8% in the second quarter. BOKF NA now owns 9,485 shares of the company’s stock worth $754,000 after buying an additional 73 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors.

Alibaba Group Holding Company Profile

Alibaba Group Holding Limited is a holding company. 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 (the PRC or China) and internationally.

5 Day Chart for NYSE:BABA

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