Alibaba Group (NYSE:BABA) Shares Up 1.2% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s stock price shot up 1.2% during trading on Tuesday . The stock traded as high as $85.35 and last traded at $85.13. 2,758,656 shares were traded during trading, a decline of 84% from the average session volume of 17,231,617 shares. The stock had previously closed at $84.13.

Analysts Set New Price Targets

Several research firms have commented on BABA. Barclays reduced their price objective on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Mizuho lifted their price objective on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. StockNews.com downgraded Alibaba Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 14th. Robert W. Baird upped their price objective on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Bank of America boosted their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Price Performance

The company’s 50 day simple moving average is $90.49 and its 200 day simple moving average is $86.84. 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 market capitalization of $202.49 billion, a PE ratio of 17.22, a PEG ratio of 0.44 and a beta of 0.30.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating 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 analysts’ expectations of $239.45 billion. During the same quarter in the previous year, the business earned $1.82 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts anticipate that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Institutional Trading of Alibaba Group

Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its position in Alibaba Group by 6.2% during the 3rd quarter. Principal Financial Group Inc. now owns 52,563 shares of the specialty retailer’s stock worth $5,578,000 after acquiring an additional 3,046 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Alibaba Group by 41.7% in the third quarter. B. Riley Wealth Advisors Inc. now owns 29,534 shares of the specialty retailer’s stock valued at $3,203,000 after purchasing an additional 8,685 shares during the period. Garde Capital Inc. acquired a new stake in Alibaba Group during the 3rd quarter valued at $124,000. Inspire Trust Co. N.A. increased its stake in Alibaba Group by 25.0% during the 3rd quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the specialty retailer’s stock worth $2,122,000 after buying an additional 4,000 shares during the period. Finally, Synovus Financial Corp lifted its holdings in Alibaba Group by 9.5% in the 3rd quarter. Synovus Financial Corp now owns 5,533 shares of the specialty retailer’s stock worth $587,000 after buying an additional 481 shares in the last quarter. 13.47% of the stock is 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.