Alibaba Group (NYSE:BABA) Trading 3.7% Higher – Should You Buy?

Alibaba Group Holding Limited (NYSE:BABA)’s share price shot up 3.7% on Monday . The company traded as high as $147.10 and last traded at $146.28. 15,606,012 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 18,831,173 shares. The stock had previously closed at $141.10.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. StockNews.com raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. Bank of America boosted their price objective on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Benchmark boosted their price target on Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Citigroup raised their price objective on Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Alibaba Group currently has an average rating of “Buy” and a consensus target price of $144.07.

Alibaba Group Stock Performance

The business has a 50-day moving average price of $110.73 and a 200-day moving average price of $98.85. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $351.26 billion, a price-to-earnings ratio of 21.36, a P/E/G ratio of 0.61 and a beta of 0.28.

Alibaba Group (NYSE:BABA) last announced its 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). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The business had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. As a group, sell-side 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 hedge funds have recently modified their holdings of BABA. Norges Bank acquired a new position in shares of Alibaba Group during the 4th quarter worth approximately $585,479,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Alibaba Group by 3,180.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock worth $409,385,000 after acquiring an additional 3,740,150 shares during the period. Hhlr Advisors LTD. grew its holdings in shares of Alibaba Group by 64.1% in the third quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock valued at $936,785,000 after purchasing an additional 3,448,152 shares during the period. FMR LLC increased its position in Alibaba Group by 454.2% during the third quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after purchasing an additional 2,959,954 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Alibaba Group by 208.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer’s stock worth $254,000,000 after purchasing an additional 2,024,640 shares during the period. 13.47% of the stock is currently 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.