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

Alibaba Group Holding Limited (NYSE:BABA) shot up 1.2% on Tuesday . The stock traded as high as $133.88 and last traded at $133.87. 4,308,888 shares were traded during mid-day trading, a decline of 85% from the average session volume of 28,056,590 shares. The stock had previously closed at $132.23.

Analysts Set New Price Targets

A number of research firms have issued reports on BABA. Mizuho lifted their price target on Alibaba Group from $140.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, March 28th. Barclays upped their target price on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Arete Research raised shares of Alibaba Group to a “strong-buy” rating in a research report on Friday, February 28th. Bank of America increased their price target on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Thursday. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Alibaba Group presently has a consensus rating of “Buy” and a consensus price target of $148.14.

Alibaba Group Price Performance

The business’s 50-day moving average price is $124.35 and its 200 day moving average price is $103.55. 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 company has a market capitalization of $308.02 billion, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data 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 business had revenue of $38.38 billion during the quarter, compared to analysts’ expectations of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. Analysts anticipate that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

Several hedge funds have recently bought and sold shares of BABA. Foundations Investment Advisors LLC grew its position in Alibaba Group by 21.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 155,440 shares of the specialty retailer’s stock worth $13,180,000 after acquiring an additional 27,088 shares in the last quarter. Berkshire Asset Management LLC PA bought a new stake in shares of Alibaba Group in the 4th quarter worth approximately $911,000. Exchange Traded Concepts LLC lifted its stake in Alibaba Group by 131.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 74,807 shares of the specialty retailer’s stock worth $6,343,000 after purchasing an additional 42,446 shares during the last quarter. Bailard Inc. grew its stake in shares of Alibaba Group by 46.3% during the fourth quarter. Bailard Inc. now owns 10,245 shares of the specialty retailer’s stock valued at $869,000 after buying an additional 3,242 shares during the last quarter. Finally, Park Avenue Securities LLC increased its holdings in shares of Alibaba Group by 31.3% in the fourth quarter. Park Avenue Securities LLC now owns 18,465 shares of the specialty retailer’s stock worth $1,566,000 after buying an additional 4,397 shares during the period. 13.47% of the stock is currently owned by institutional investors.

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.