Alibaba Group (NYSE:BABA) Stock Price Up 1.9% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA) shares traded up 1.9% on Thursday . The company traded as high as $101.74 and last traded at $101.15. 5,190,782 shares were traded during trading, a decline of 74% from the average session volume of 20,146,539 shares. The stock had previously closed at $99.28.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. StockNews.com lowered shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Barclays cut their target price on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, November 19th. Mizuho raised their price objective 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. Finally, Benchmark reissued a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research note on Friday, November 15th. 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $115.13.

Alibaba Group Stock Up 1.4 %

The company’s fifty day moving average is $87.44 and its 200-day moving average is $89.33. The company has a market capitalization of $239.44 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 0.42 and a beta of 0.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37.

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, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $239.45 billion. During the same period last year, the firm posted $1.82 EPS. The company’s revenue was up 5.2% on a year-over-year basis. As a group, analysts predict that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Concord Wealth Partners boosted its position in Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 155 shares during the period. Highline Wealth Partners LLC bought a new position in Alibaba Group in the third quarter worth approximately $36,000. Decker Retirement Planning Inc. purchased a new position in Alibaba Group during the 4th quarter worth $31,000. Sierra Ocean LLC bought a new stake in Alibaba Group during the 4th quarter valued at $32,000. Finally, Assetmark Inc. grew its position in shares of Alibaba Group by 225.4% during the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after buying an additional 275 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Company Profile

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.