Alibaba Group (NYSE:BABA) Reaches New 52-Week High – Time to Buy?

Alibaba Group Holding Limited (NYSE:BABA)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $129.02 and last traded at $127.18, with a volume of 42016984 shares trading hands. The stock had previously closed at $124.73.

Wall Street Analyst Weigh In

Several equities analysts have commented on BABA shares. Citigroup increased their price target on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Barclays decreased their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Mizuho increased their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Robert W. Baird increased their price target on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, StockNews.com downgraded Alibaba Group from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and an average price target of $115.86.

Alibaba Group Trading Up 2.0 %

The firm has a market cap of $302.17 billion, a PE ratio of 25.80, a PEG ratio of 0.53 and a beta of 0.31. The business has a 50-day moving average price of $92.64 and a two-hundred day moving average price of $91.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Rings Capital Management LLC increased its position in shares of Alibaba Group by 1.4% in the fourth quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer’s stock valued at $602,000 after buying an additional 100 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of Alibaba Group by 3.7% in the fourth quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer’s stock valued at $240,000 after buying an additional 101 shares in the last quarter. Global Endowment Management LP increased its position in shares of Alibaba Group by 1.4% in the fourth quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer’s stock valued at $642,000 after buying an additional 106 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in shares of Alibaba Group by 3.6% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer’s stock valued at $266,000 after buying an additional 108 shares in the last quarter. Finally, TRUE Private Wealth Advisors increased its position in shares of Alibaba Group by 3.7% in the third quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock valued at $331,000 after buying an additional 112 shares in the last quarter. Hedge funds and other institutional investors 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.