Alibaba Group (NYSE:BABA) Hits New 52-Week High – What’s Next?

Shares of Alibaba Group Holding Limited (NYSE:BABA) hit a new 52-week high on Monday . The company traded as high as $147.10 and last traded at $146.01, with a volume of 12773220 shares traded. The stock had previously closed at $141.10.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BABA. Bank of America lifted their price objective on Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Barclays lifted their price target on Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Citigroup lifted their price target on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. lifted their price target on Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Morgan Stanley upgraded Alibaba Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $100.00 to $180.00 in a research report on Monday, February 24th. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alibaba Group presently has an average rating of “Buy” and an average price target of $144.07.

Alibaba Group Stock Down 3.3 %

The company has a 50 day moving average price of $113.14 and a two-hundred day moving average price of $99.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market cap of $338.97 billion, a PE ratio of 20.62, a PEG ratio of 0.61 and a beta of 0.27.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing the consensus estimate of $2.84 by ($0.07). The business had revenue of $38.38 billion during the quarter, compared to analysts’ expectations of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. Analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Institutional Trading of Alibaba Group

A number of hedge funds have recently bought and sold shares of BABA. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Alibaba Group in the fourth quarter worth about $289,000. Lighthouse Financial LLC purchased a new stake in Alibaba Group in the fourth quarter worth about $237,000. Fluent Financial LLC increased its position in Alibaba Group by 22.6% in the fourth quarter. Fluent Financial LLC now owns 10,627 shares of the specialty retailer’s stock worth $901,000 after buying an additional 1,957 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in 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 worth $266,000 after buying an additional 108 shares in the last quarter. Finally, LM Advisors LLC purchased a new stake in Alibaba Group in the fourth quarter worth about $855,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Company Profile

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.