Alibaba Group (NYSE:BABA) Shares Up 2.1% – Here’s Why

Shares of Alibaba Group Holding Limited (NYSE:BABA) rose 2.1% on Friday . The stock traded as high as $111.52 and last traded at $109.03. Approximately 17,805,254 shares traded hands during trading, a decline of 14% from the average daily volume of 20,607,737 shares. The stock had previously closed at $106.75.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Mizuho upped their target price on shares of Alibaba Group from $140.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, March 28th. Benchmark lifted their target price on Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. StockNews.com raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Thursday, April 3rd. Citigroup dropped their target price on shares of Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Robert W. Baird increased their price objective on shares of Alibaba Group from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alibaba Group currently has an average rating of “Buy” and a consensus target price of $150.36.

Alibaba Group Stock Up 2.1 %

The firm has a market capitalization of $260.55 billion, a P/E ratio of 15.76, a PEG ratio of 0.61 and a beta of 0.24. 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 firm’s fifty day moving average price is $127.14 and its 200-day moving average price is $104.77.

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

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors and hedge funds have recently bought and sold shares of BABA. Marcum Wealth LLC raised its holdings in shares of Alibaba Group by 3.2% in the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer’s stock worth $363,000 after purchasing an additional 86 shares in the last quarter. Rings Capital Management LLC grew its position in Alibaba Group by 1.4% in the fourth quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer’s stock worth $602,000 after buying an additional 100 shares during the last quarter. Lindbrook Capital LLC increased its holdings 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 boosted its stake in shares of Alibaba Group by 1.4% during the 4th quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer’s stock worth $642,000 after acquiring an additional 106 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Alibaba Group by 3.6% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer’s stock worth $266,000 after acquiring an additional 108 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

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.