Alibaba Group (NYSE:BABA) Stock Price Up 2.3% – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA) shares were up 2.3% during mid-day trading on Wednesday . The stock traded as high as $87.54 and last traded at $87.17. Approximately 5,452,373 shares were traded during trading, a decline of 69% from the average daily volume of 17,597,670 shares. The stock had previously closed at $85.18.

Analyst Upgrades and Downgrades

BABA has been the topic of several recent analyst reports. Robert W. Baird increased their target price on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a report on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Susquehanna dropped their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Finally, Bank of America lifted their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Price Performance

The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $98.47 and its 200-day moving average is $86.00. The stock has a market cap of $207.18 billion, a PE ratio of 17.68, a P/E/G ratio of 0.42 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. During the same quarter in the previous year, the firm posted $1.82 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. First Command Advisory Services Inc. acquired a new stake in shares of Alibaba Group during the 2nd quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC lifted its position in shares of Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after buying an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Alibaba Group during the 2nd quarter valued at about $27,000. Concord Wealth Partners raised its stake in 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 acquiring an additional 155 shares during the period. Finally, Highline Wealth Partners LLC bought a new position in Alibaba Group in the third quarter worth about $36,000. 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.