Alibaba Group (NYSE:BABA) Trading 4.8% Higher – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s stock price rose 4.8% during trading on Tuesday . The stock traded as high as $103.03 and last traded at $103.31. Approximately 11,602,426 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 19,993,895 shares. The stock had previously closed at $98.61.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. StockNews.com downgraded 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 objective on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Barclays decreased their target price on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 19th. Benchmark reiterated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Friday, November 15th. Finally, Mizuho raised their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.13.

Alibaba Group Stock Up 1.1 %

The company has a fifty day moving average price of $87.44 and a 200-day moving average price of $89.33. The stock has a market capitalization of $238.73 billion, a P/E ratio of 20.36, a PEG ratio of 0.42 and a beta of 0.31. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. During the same quarter in the previous year, the company posted $1.82 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. As a group, research analysts forecast that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

Several institutional investors have recently bought and sold shares of BABA. AMF Tjanstepension AB lifted its position in Alibaba Group by 6.9% in the third quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock worth $296,062,000 after buying an additional 178,999 shares during the last quarter. Ignite Planners LLC raised its stake in shares of Alibaba Group by 3.8% in the third quarter. Ignite Planners LLC now owns 5,597 shares of the specialty retailer’s stock valued at $594,000 after acquiring an additional 206 shares during the period. O Keefe Stevens Advisory Inc. lifted its holdings in shares of Alibaba Group by 27.7% in the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 63,918 shares of the specialty retailer’s stock worth $6,783,000 after acquiring an additional 13,873 shares during the last quarter. Udine Wealth Management Inc. boosted its stake in shares of Alibaba Group by 2.5% during the 3rd quarter. Udine Wealth Management Inc. now owns 23,061 shares of the specialty retailer’s stock worth $2,447,000 after purchasing an additional 570 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in Alibaba Group during the 3rd quarter valued at about $125,000. 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.