Shares of Alibaba Group Holding Limited (NYSE:BABA – Get Free Report) were up 0.1% on Tuesday . The stock traded as high as $86.90 and last traded at $85.17. Approximately 5,969,419 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 11,455,344 shares. The stock had previously closed at $85.12.
Wall Street Analyst Weigh In
Several brokerages have issued reports on BABA. Mizuho lifted their target price 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. Barclays dropped their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, November 19th. Bank of America raised their price objective on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird increased their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, StockNews.com downgraded shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 14th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.13.
Read Our Latest Research Report on Alibaba Group
Alibaba Group Stock Performance
Alibaba Group (NYSE:BABA – Get Free Report) last released its earnings results 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. The firm had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.82 earnings per share. Equities research analysts forecast that Alibaba Group Holding Limited will post 7.86 EPS for the current year.
Hedge Funds Weigh In On Alibaba Group
Several institutional investors have recently bought and sold shares of BABA. Strategic Investment Solutions Inc. IL bought a new stake in Alibaba Group during the 2nd quarter valued at $27,000. Concord Wealth Partners lifted its position in shares of 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. Decker Retirement Planning Inc. bought a new position in shares of Alibaba Group during the fourth quarter valued at approximately $31,000. Highline Wealth Partners LLC bought a new position in Alibaba Group in the third quarter worth approximately $36,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Alibaba Group during the second quarter worth $38,000. Institutional investors own 13.47% of the company’s stock.
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.
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