Alibaba Group (NYSE:BABA) Trading 2.9% Higher

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded up 2.9% during mid-day trading on Friday . The company traded as high as $85.75 and last traded at $85.37. 7,550,008 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 16,595,203 shares. The stock had previously closed at $82.96.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Loop Capital raised their target price on Alibaba Group from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Citigroup reduced their target price on Alibaba Group from $124.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. JPMorgan Chase & Co. raised their target price on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Barclays reduced their price objective on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Finally, Robert W. Baird lifted their price objective on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Price Performance

The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $216.73 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 0.48 and a beta of 0.32. The stock has a 50-day moving average price of $77.29 and a 200 day moving average price of $76.30.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. The firm had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same period last year, the firm earned $2.47 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts expect that Alibaba Group Holding Limited will post 6.96 earnings per share for the current year.

Institutional Investors Weigh In On Alibaba Group

Several institutional investors have recently bought and sold shares of BABA. Norges Bank acquired a new stake in Alibaba Group in the 4th quarter worth about $329,367,000. H&H International Investment LLC boosted its holdings in Alibaba Group by 63.1% in the 4th quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock worth $384,390,000 after buying an additional 1,918,730 shares during the last quarter. Ruffer LLP boosted its holdings in Alibaba Group by 139.2% in the 4th quarter. Ruffer LLP now owns 3,140,839 shares of the specialty retailer’s stock worth $243,430,000 after buying an additional 1,828,019 shares during the last quarter. AMF Tjanstepension AB boosted its holdings in Alibaba Group by 79.5% in the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock worth $188,197,000 after buying an additional 1,156,479 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in Alibaba Group by 384.2% in the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock worth $102,596,000 after buying an additional 1,130,643 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

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.