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 Tuesday.

According to Zacks, “Alibaba Group is a Chinese e-Commerce giant which caters mainly to its native market. Alibaba Group’s fiscal second-quarter results exceeded the Zacks Consensus Estimate. The solid growth in its core e-commerce business as well as growing cloud computing services 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.”

A number of other equities analysts also recently commented on the stock. Robert W. Baird reaffirmed an “outperform” rating and set a $110.00 target price (up from $104.00) on shares of Alibaba Group Holding in a research note on Friday, November 4th. RBC Capital Markets reaffirmed an “outperform” rating and set a $120.00 target price (up from $110.00) on shares of Alibaba Group Holding in a research note on Thursday, November 3rd. Jefferies Group lifted their target price on shares of Alibaba Group Holding from $103.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday, November 3rd. Brean Capital reaffirmed a “buy” rating and set a $115.00 target price on shares of Alibaba Group Holding in a research note on Thursday, November 3rd. Finally, Royal Bank Of Canada lifted their target price on shares of Alibaba Group Holding from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, November 3rd. Three analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Alibaba Group Holding presently has a consensus rating of “Buy” and an average target price of $117.01.

Analyst Recommendations for Alibaba Group Holding (NYSE:BABA)

Alibaba Group Holding (NYSE:BABA) opened at 96.67 on Tuesday. The firm has a 50-day moving average of $103.77 and a 200-day moving average of $89.68. The company has a market capitalization of $239.55 billion, a P/E ratio of 50.69 and a beta of 2.93. Alibaba Group Holding has a 52 week low of $59.25 and a 52 week high of $109.87.

Alibaba Group Holding (NYSE:BABA) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.10. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.03 billion. Alibaba Group Holding had a net margin of 26.44% and a return on equity of 13.34%. During the same period in the previous year, the business posted $0.57 earnings per share. Analysts anticipate that Alibaba Group Holding will post $3.31 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of Alibaba Group Holding by 43.8% in the first quarter. Geode Capital Management LLC now owns 262,059 shares of the company’s stock worth $20,518,000 after buying an additional 79,842 shares in the last quarter. Legal & General Group Plc increased its position in shares of Alibaba Group Holding by 0.3% in the first quarter. Legal & General Group Plc now owns 1,024,408 shares of the company’s stock worth $80,944,000 after buying an additional 3,399 shares in the last quarter. Natixis bought a new position in shares of Alibaba Group Holding during the first quarter worth about $7,646,000. Oasis Management Co Ltd. bought a new position in shares of Alibaba Group Holding during the first quarter worth about $616,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Alibaba Group Holding during the first quarter worth about $835,000. Institutional investors and hedge funds own 29.59% of the company’s stock.

About Alibaba Group Holding

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.

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