Alibaba Group (NYSE:BABA) Shares Up 2% – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA)’s stock price rose 2% during mid-day trading on Monday . The stock traded as high as $84.39 and last traded at $83.96. Approximately 4,927,332 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 17,358,576 shares. The stock had previously closed at $82.28.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. StockNews.com cut shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Bank of America lifted their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Mizuho increased their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Benchmark restated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Trading Up 0.4 %

The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $91.45 and a two-hundred day simple moving average of $86.69. The firm has a market capitalization of $203.97 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 0.44 and a beta of 0.30.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating the consensus estimate of $1.87 by $13.19. The firm had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 earnings per share. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently modified their holdings of BABA. Concord Wealth Partners lifted its holdings in Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of Alibaba Group in the 2nd quarter worth $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Alibaba Group during the 3rd quarter worth $36,000. Assetmark Inc. boosted its position in Alibaba Group by 225.4% during the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 275 shares in the last quarter. Finally, Asset Dedication LLC grew its stake in Alibaba Group by 315.0% in 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 last quarter. 13.47% of the stock is currently owned by 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.