Alibaba Group (NYSE:BABA) Upgrade by Sanford C. Bernstein

Alibaba Group (NYSE:BABA) received a positive shift in its evaluation as investment analysts at Sanford C. Bernstein upgraded the company from a "market perform" rating to an "outperform" rating in a report issued on Tuesday.

Several other research organizations have also shown interest in Alibaba Group. For example, StockNews.com recently moved Alibaba's rating from "hold" to "buy" in their report released on Friday. Additionally, Mizuho increased their target price for Alibaba from $92.00 to $113.00, aligning with an "outperform" rating in their recent findings.

Benchmark and JPMorgan Chase & Co. also raised their price targets for Alibaba shares, with Benchmark upping it from $118.00 to $190.00 and JPMorgan adjusting theirs from $125.00 to $170.00. Citigroup also contributed by lifting their target price from $133.00 to $138.00, rating it as a "buy". According to MarketBeat.com, a total of fifteen investment analysts currently rate Alibaba Group stock as a buy, portraying a market consensus of a "Buy" rating with an average target price of $138.36.

Alibaba Group Stock Performance

On Tuesday, during mid-day trading, NYSE:BABA increased by $5.00, reaching $134.04. The stock recorded a trading volume of 36,394,646 shares, significantly higher than its average volume of 31,609,166. Over the last year, Alibaba Group has seen a low of $68.36 and a high of $145.30. It holds a market capitalization of $318.48 billion, along with a P/E ratio of 19.37 and a P/E/G ratio of 0.61.

The firm's average prices over the last 50 and 200 days stand at $96.29 and $93.43, respectively. In terms of financial health, the company showcases a debt-to-equity ratio of 0.19, along with both a quick ratio and current ratio of 1.48.

Recent Earnings Report and Analyst Predictions

Alibaba Group last reported its earnings on February 20, where it announced earnings per share of $2.77 for the quarter. This figure was slightly below the consensus estimate of $2.84, reflecting a margin of 12.29% and a return on equity at 12.89%. The company generated revenue of $38.38 billion, surpassing the expectations of $38.19 billion set by analysts.

Looking ahead, analysts project that for the current year, Alibaba Group will achieve earnings per share of approximately 7.86.

Institutional Trading Trends

Hedge funds have recently adjusted their positions concerning Alibaba Group. For instance, Concord Wealth Partners significantly increased its stake by 155.0% during the third quarter, while Decker Retirement Planning Inc. made a new acquisition of Alibaba shares valued at $31,000. Sierra Ocean LLC and Highline Wealth Partners LLC also entered new positions in the fourth quarter, demonstrating growing institutional interest in the stock.

Currently, 13.47% of Alibaba's stock is held by institutional investors.

About Alibaba Group

Alibaba Group Holding Limited operates through several subsidiaries, offering technology infrastructure and marketing capabilities to aid merchants, brands, and retailers in connecting with customers both within China and internationally. The company segments its operations into various categories, including China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, along with Innovation Initiatives and Others.

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