Alibaba Group (NYSE:BABA) Shares Up 1.3% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s share price was up 1.3% during mid-day trading on Wednesday . The stock traded as high as $133.85 and last traded at $134.48. Approximately 5,156,452 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 18,999,653 shares. The stock had previously closed at $132.75.

Analyst Upgrades and Downgrades

BABA has been the topic of several research analyst reports. Citigroup lifted their target price on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. upped their price objective on shares of Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Mizuho lifted their target price on shares of Alibaba Group from $140.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley raised shares of Alibaba Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $100.00 to $180.00 in a research note on Monday, February 24th. Finally, Benchmark lifted their price objective on Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $148.14.

Alibaba Group Stock Down 2.3 %

The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $120.65 and a 200-day simple moving average of $102.09. The stock has a market cap of $314.79 billion, a P/E ratio of 19.15, a PEG ratio of 0.61 and a beta of 0.28.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). The firm had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. Analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Hedge Funds Weigh In On Alibaba Group

Several large investors have recently made changes to their positions in the business. Decker Retirement Planning Inc. acquired a new position in shares of Alibaba Group during the fourth quarter worth approximately $31,000. Sierra Ocean LLC acquired a new position in Alibaba Group during the 4th quarter valued at $32,000. Strategic Investment Solutions Inc. IL boosted its holdings in Alibaba Group by 59.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer’s stock valued at $46,000 after purchasing an additional 200 shares during the period. Redwood Park Advisors LLC acquired a new stake in Alibaba Group in the 4th quarter worth $52,000. Finally, Kieckhefer Group LLC bought a new position in shares of Alibaba Group during the 4th quarter worth about $55,000. Institutional investors and hedge funds 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.