Alibaba Group (NYSE:BABA) Stock Price Up 1.8% – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA) was up 1.8% during mid-day trading on Monday . The company traded as high as $85.42 and last traded at $84.65. Approximately 5,624,094 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 17,643,977 shares. The stock had previously closed at $83.13.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BABA. Bank of America boosted their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 price target on shares of Alibaba Group in a research note on Friday, August 23rd. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th. Loop Capital reiterated a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Finally, Truist Financial lowered their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Stock Up 2.9 %

The firm has a market capitalization of $204.77 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 0.41 and a beta of 0.35. 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 business’s 50 day moving average is $98.42 and its 200-day moving average is $85.92.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. During the same quarter last year, the company posted $1.82 earnings per share. Alibaba Group’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts anticipate that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

Institutional Trading of Alibaba Group

A number of large investors have recently bought and sold shares of the stock. Concord Wealth Partners lifted its position in shares of Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Alibaba Group during the 2nd quarter worth $27,000. Highline Wealth Partners LLC bought a new position in Alibaba Group in the 3rd quarter valued at $36,000. First Command Advisory Services Inc. acquired a new stake in shares of Alibaba Group in the 2nd quarter valued at $25,000. Finally, GPS Wealth Strategies Group LLC raised its position in shares of Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 209 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

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.