Alibaba Group (NYSE:BABA) Trading 0.7% Higher – Time to Buy?

Alibaba Group Holding Limited (NYSE:BABA)’s stock price shot up 0.7% during trading on Tuesday . The stock traded as high as $91.45 and last traded at $90.66. 3,960,082 shares were traded during trading, a decline of 69% from the average session volume of 12,787,418 shares. The stock had previously closed at $89.99.

Analyst Ratings Changes

A number of analysts have recently weighed in on BABA shares. Barclays dropped their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Friday, November 15th. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a report on Monday, October 7th. Citigroup boosted their target price on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Mizuho raised their price target on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $115.13.

Alibaba Group Stock Up 6.2 %

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 company has a market cap of $244.75 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 0.37 and a beta of 0.30. The business has a fifty day moving average price of $85.93 and a two-hundred day moving average price of $88.52.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $239.45 billion. During the same period in the prior year, the business posted $1.82 earnings per share. Alibaba Group’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Institutional Investors Weigh In On Alibaba Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in BABA. NewEdge Advisors LLC increased its position in Alibaba Group by 12.8% during the second quarter. NewEdge Advisors LLC now owns 52,363 shares of the specialty retailer’s stock worth $3,770,000 after acquiring an additional 5,924 shares during the period. EP Wealth Advisors LLC increased its holdings in shares of Alibaba Group by 28.4% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,633 shares of the specialty retailer’s stock worth $406,000 after purchasing an additional 1,247 shares during the period. Truist Financial Corp raised its position in shares of Alibaba Group by 2.4% during the second quarter. Truist Financial Corp now owns 281,504 shares of the specialty retailer’s stock valued at $20,268,000 after buying an additional 6,671 shares during the last quarter. SRN Advisors LLC lifted its stake in shares of Alibaba Group by 4.2% in the second quarter. SRN Advisors LLC now owns 23,189 shares of the specialty retailer’s stock valued at $1,670,000 after buying an additional 930 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in Alibaba Group during the second quarter valued at about $27,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

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.