Alibaba Group (NYSE:BABA) Shares Up 0.4%

Alibaba Group Holding Limited (NYSE:BABA) traded up 0.4% on Thursday . The stock traded as high as $85.58 and last traded at $85.11. 2,894,461 shares were traded during trading, a decline of 82% from the average session volume of 16,389,053 shares. The stock had previously closed at $84.81.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BABA shares. Truist Financial reduced their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Benchmark reaffirmed a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. Finally, Robert W. Baird increased their target price on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Stock Performance

The stock has a market cap of $214.90 billion, a PE ratio of 19.74, a P/E/G ratio of 0.43 and a beta of 0.33. The firm’s 50-day moving average is $79.86 and its 200 day moving average is $77.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA) last announced its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same period in the prior year, the company earned $2.47 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. As a group, research analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Primecap Management Co. CA lifted its holdings in shares of Alibaba Group by 5.2% during the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after purchasing an additional 1,074,175 shares during the period. Sanders Capital LLC raised its position in Alibaba Group by 5.4% during the 4th quarter. Sanders Capital LLC now owns 15,848,257 shares of the specialty retailer’s stock worth $1,228,398,000 after buying an additional 819,019 shares during the last quarter. FIL Ltd lifted its stake in shares of Alibaba Group by 10.2% in the 4th quarter. FIL Ltd now owns 10,630,701 shares of the specialty retailer’s stock worth $823,986,000 after acquiring an additional 983,842 shares during the period. H&H International Investment LLC boosted its holdings in shares of Alibaba Group by 63.1% in the fourth quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock valued at $384,390,000 after acquiring an additional 1,918,730 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Alibaba Group during the fourth quarter worth about $329,367,000. 13.47% of the stock is currently 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.