Alibaba Group (NYSE:BABA) Trading 2.3% Higher – Still a Buy?

Alibaba Group Holding Limited (NYSE:BABA) shot up 2.3% during mid-day trading on Wednesday . The stock traded as high as $87.54 and last traded at $87.17. 5,452,373 shares changed hands during trading, a decline of 69% from the average session volume of 17,597,670 shares. The stock had previously closed at $85.18.

Analysts Set New Price Targets

Several research firms have issued reports on BABA. Benchmark reiterated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Friday, November 15th. Barclays dropped their target price 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. Mizuho boosted their target price on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Loop Capital reiterated a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Price Performance

The company has a market capitalization of $207.18 billion, a PE ratio of 17.56, a PEG ratio of 0.42 and a beta of 0.35. 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’s 50 day moving average price is $98.47 and its 200-day moving average price is $86.01.

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

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds have recently made changes to their positions in the business. Synovus Financial Corp raised its position in Alibaba Group by 9.5% in the third quarter. Synovus Financial Corp now owns 5,533 shares of the specialty retailer’s stock valued at $587,000 after purchasing an additional 481 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Alibaba Group during the 3rd quarter valued at about $89,000. World Investment Advisors LLC lifted its position in Alibaba Group by 17.0% during the 3rd quarter. World Investment Advisors LLC now owns 10,252 shares of the specialty retailer’s stock worth $1,088,000 after acquiring an additional 1,486 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Alibaba Group by 29.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 59,025 shares of the specialty retailer’s stock worth $6,264,000 after acquiring an additional 13,351 shares during the period. Finally, Pine Valley Investments Ltd Liability Co raised its stake in shares of Alibaba Group by 21.9% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 114,981 shares of the specialty retailer’s stock valued at $12,202,000 after purchasing an additional 20,654 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

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.