Alibaba Group (NYSE:BABA) Trading 1.7% Higher – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s share price rose 1.7% during trading on Thursday . The company traded as high as $87.54 and last traded at $86.59. Approximately 13,607,643 shares were traded during trading, a decline of 23% from the average daily volume of 17,635,047 shares. The stock had previously closed at $85.18.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BABA. StockNews.com raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Mizuho lifted their price objective on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Truist Financial cut their target price 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. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a research note on Monday, October 7th. Finally, Loop Capital reiterated a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group Stock Up 0.9 %

The firm’s fifty day simple moving average is $98.45 and its 200-day simple moving average is $86.03. The company has a market cap of $209.05 billion, a PE ratio of 17.72, a P/E/G ratio of 0.43 and a beta of 0.35. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last posted its earnings results 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. The firm had revenue of $236.50 billion for 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%. Alibaba Group’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 EPS. As a group, equities research analysts expect that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal year.

Institutional Trading of Alibaba Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Generate Investment Management Ltd acquired a new stake in shares of Alibaba Group during the 3rd quarter worth about $12,656,000. Nations Financial Group Inc. IA ADV boosted its position in Alibaba Group by 63.9% during the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock worth $3,047,000 after acquiring an additional 11,192 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Alibaba Group by 6.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock worth $87,327,000 after acquiring an additional 50,000 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Alibaba Group by 7,734.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock valued at $28,632,000 after acquiring an additional 266,361 shares during the last quarter. Finally, United Advisor Group LLC purchased a new position in shares of Alibaba Group during the 3rd quarter worth $631,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

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.