Alibaba Group Upgraded to Outperform by Sanford C. Bernstein

Alibaba Group (NYSE:BABA) received an upgrade from Sanford C. Bernstein, moving its rating from "market perform" to "outperform" in a research report published on Tuesday. This positive shift in rating reflects analysts' confidence in the company's future performance.

Additionally, other investment firms have also recently updated their views on Alibaba Group. StockNews.com changed their rating from "hold" to "buy," while Mizuho raised its price target for Alibaba from $92.00 to $113.00 and affirmed an "outperform" rating. Similarly, Benchmark increased their price target from $118.00 to $190.00 and recommended a "buy" rating for the stock. Furthermore, JPMorgan Chase & Co. raised their price target from $125.00 to $170.00, giving Alibaba an "overweight" rating. Citigroup also adjusted their target price, increasing it from $133.00 to $138.00, maintaining a "buy" rating as well.

According to MarketBeat.com, 15 investment analysts currently rate Alibaba Group as a "buy," resulting in a general consensus rating of "Buy" and an average target price estimated at $138.36.

Alibaba Group Price Performance

On Tuesday, shares of Alibaba Group rose by $5.00, reaching $134.04 during mid-day trading. The trading volume was reported at 36,394,646 shares, exceeding the average trading volume of 31,609,166. Over the past year, the stock recorded a low of $68.36 and a high of $145.30. With a market capitalization of $318.48 billion, the company has a P/E ratio of 19.37 and a P/E/G ratio of 0.61. The beta is recorded at 0.31, denoting relatively less volatility.

Alibaba Group had recently reported its earnings results on February 20th, revealing that the company generated $2.77 per share for the quarter, slightly missing the analysts' consensus estimate of $2.84 by $0.07. The company had a net margin of 12.29% and a return on equity of 12.89%, with revenue at $38.38 billion, surpassing the expected $38.19 billion.

Institutional Trading of Alibaba Group

In recent months, many hedge funds have adjusted their stakes in BABA. For instance, Concord Wealth Partners increased its position by 155.0% during the third quarter, now holding 255 shares valued at $27,000. Decker Retirement Planning Inc. entered a new position in Alibaba valued at $31,000 recently, while Sierra Ocean LLC also acquired a new stake worth about $32,000. Highline Wealth Partners LLC and Assetmark Inc. have also made recent moves to increase their holdings in Alibaba Group. Overall, 13.47% of the stock is currently owned by institutional investors.

About Alibaba Group

Alibaba Group Holding Limited specializes in providing technological infrastructure and marketing services that enable merchants, brands, and retailers to connect with customers in China and globally. The company operates across various segments, which include China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, as well as Innovation Initiatives and Others.

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