Alibaba Group Upgraded to Outperform by Sanford C. Bernstein

Alibaba Group (NYSE:BABA) received a new rating upgrade from Sanford C. Bernstein, moving from a "market perform" rating to an "outperform" rating in a research report released on Tuesday. This positive change in evaluation reflects growing confidence in the company's potential for performance and growth.

In addition to Sanford C. Bernstein's upgrade, other analysts have also shared their bullish perspectives on Alibaba. StockNews.com recently upgraded the company from a "hold" rating to a "buy" rating. Furthermore, Mizuho increased their target price for Alibaba from $92 to $113, accompanying it with an "outperform" rating in their recent analysis.

Benchmark also expressed optimism, raising their price target from $118 to $190 while maintaining a "buy" rating on the stock. Likewise, JPMorgan Chase & Co. lifted their price objective on Alibaba shares from $125 to $170, assigning an "overweight" rating in their latest report. Citigroup followed suit, increasing their target price from $133 to $138 and giving the stock a "buy" rating.

Overall, fifteen investment analysts have issued buy ratings for Alibaba, leading to a consensus rating of "Buy" and an average target price of $138.36 according to MarketBeat.com.

Alibaba Group Price Performance

Alibaba Group saw its stock trading rise by $5.00 on Tuesday, reaching $134.04. The trading volume was significant, totaling 36,394,646 shares, surpassing the average volume of 31,609,166. Over the past year, Alibaba's stock has experienced a low of $68.36 and a high of $145.30. Presently, the company holds a market capitalization of $318.48 billion, with a price-to-earnings (P/E) ratio of 19.37 and a P/E/G ratio of 0.61.

In the recently reported earnings results, Alibaba announced earnings per share of $2.77 for the last quarter, slightly below the consensus estimate of $2.84, missing by $0.07. The company reported a net margin of 12.29% and a return on equity of 12.89%. The revenue for this quarter was reported at $38.38 billion, surpassing analysts' expectations of $38.19 billion. Analysts project that Alibaba will report earnings of 7.86 per share for the current year.

Institutional Trading of Alibaba Group

Recent changes in institutional trading indicate strong interest in Alibaba Group. For example, Concord Wealth Partners increased its stake in Alibaba by 155% during the third quarter, acquiring an additional 155 shares, bringing their total to 255 shares valued at $27,000. Decker Retirement Planning Inc. acquired a new position in Alibaba valued at $31,000 in the fourth quarter. Similarly, Sierra Ocean LLC also initiated a new position in the fourth quarter, worth approximately $32,000.

Highline Wealth Partners LLC made a new investment in Alibaba in the third quarter amounting to about $36,000. Lastly, Assetmark Inc. expanded its holdings by 225.4% during the same quarter, now owning 397 shares worth $42,000. Currently, institutional investors hold roughly 13.47% of Alibaba's stock.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides various technology infrastructure and marketing capabilities to assist merchants, brands, and other businesses in connecting with their customers in China and globally. The company operates across seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.

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