Alibaba Group (NYSE:BABA) Shares Up 0.4% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s share price shot up 0.4% on Wednesday . The company traded as high as $85.89 and last traded at $85.52. 5,235,414 shares were traded during mid-day trading, a decline of 70% from the average session volume of 17,372,986 shares. The stock had previously closed at $85.14.

Analysts Set New Price Targets

A number of research firms have recently commented on BABA. StockNews.com downgraded Alibaba Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 14th. Mizuho lifted their target price on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Barclays cut their price target on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. Benchmark restated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Friday, November 15th. Finally, Robert W. Baird upped their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Trading Up 0.4 %

The stock has a market cap of $203.97 billion, a P/E ratio of 17.35, a P/E/G ratio of 0.44 and a beta of 0.30. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. The company has a 50-day simple moving average of $91.45 and a 200-day simple moving average of $86.69.

Alibaba Group (NYSE:BABA) last posted its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. During the same period in the prior year, the business earned $1.82 EPS. Alibaba Group’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Institutional Trading of Alibaba Group

Large investors have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new stake in Alibaba Group during the 2nd quarter worth about $27,000. Concord Wealth Partners raised its stake in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 155 shares during the period. Highline Wealth Partners LLC bought a new position in Alibaba Group during the third quarter worth about $36,000. Asset Dedication LLC raised its holdings in Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 400 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Alibaba Group in the second quarter worth about $38,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.