Alibaba Group (NYSE:BABA) Stock Price Up 0.2% – Here’s Why

Shares of Alibaba Group Holding Limited (NYSE:BABA) shot up 0.2% on Friday . The stock traded as high as $85.47 and last traded at $85.08. 2,746,019 shares were traded during trading, a decline of 58% from the average session volume of 6,573,284 shares. The stock had previously closed at $84.95.

Analyst Ratings Changes

Several brokerages have weighed in on BABA. Bank of America boosted their price objective on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Mizuho increased their price target on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. StockNews.com cut shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Benchmark reiterated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a report on Friday, November 15th. Finally, Barclays reduced their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group Trading Up 0.2 %

The stock has a market cap of $203.09 billion, a P/E ratio of 17.27, a P/E/G ratio of 0.44 and a beta of 0.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The firm’s 50 day moving average price is $89.35 and its 200-day moving average price is $86.95.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BABA. Strategic Investment Solutions Inc. IL bought a new position in Alibaba Group in the second quarter worth approximately $27,000. Concord Wealth Partners raised its holdings in Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares during the period. Highline Wealth Partners LLC purchased a new position in Alibaba Group during the third quarter valued at $36,000. Asset Dedication LLC grew its holdings in Alibaba Group by 315.0% during the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 400 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Alibaba Group in the second quarter worth about $38,000. 13.47% of the stock is owned by hedge funds and other 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.