Alibaba Group (NYSE:BABA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage currently has a $198.00 target price on the specialty retailer’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.40% from the company’s current price.

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. Also, on a year to date 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.”

Several other analysts have also recently issued reports on the stock. Vetr raised shares of Alibaba Group from a “buy” rating to a “strong-buy” rating and set a $190.25 price target on the stock in a research report on Wednesday, September 6th. SunTrust Banks reissued a “buy” rating and set a $205.00 price target on shares of Alibaba Group in a research report on Friday, October 20th. Needham & Company LLC increased their price target on shares of Alibaba Group from $190.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. BidaskClub raised shares of Alibaba Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 12th. Finally, Oppenheimer reissued a “buy” rating and set a $220.00 price target (up previously from $200.00) on shares of Alibaba Group in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $184.15.

Shares of Alibaba Group (NYSE BABA) opened at $174.61 on Monday. The stock has a market cap of $447,203.13, a PE ratio of 50.76, a PEG ratio of 1.32 and a beta of 2.52. Alibaba Group has a 1 year low of $86.01 and a 1 year high of $191.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.71 and a current ratio of 1.71.

A number of institutional investors have recently made changes to their positions in BABA. Shine Investment Advisory Services Inc. purchased a new position in Alibaba Group in the second quarter valued at approximately $102,000. First Eagle Investment Management LLC purchased a new position in Alibaba Group in the third quarter valued at approximately $104,000. Lorber David A purchased a new position in shares of Alibaba Group during the third quarter worth approximately $109,000. Winch Advisory Services LLC grew its position in shares of Alibaba Group by 147.4% during the second quarter. Winch Advisory Services LLC now owns 809 shares of the specialty retailer’s stock worth $114,000 after acquiring an additional 482 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA purchased a new position in shares of Alibaba Group during the second quarter worth approximately $116,000. Institutional investors own 38.13% of the company’s stock.

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About Alibaba Group

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.

Analyst Recommendations for Alibaba Group (NYSE:BABA)

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