Alibaba Group (NYSE:BABA) Shares Up 2.6%

Shares of Alibaba Group Holding Limited (NYSE:BABA) rose 2.6% during trading on Monday . The company traded as high as $90.67 and last traded at $90.59. Approximately 8,948,412 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 16,232,022 shares. The stock had previously closed at $88.29.

Analysts Set New Price Targets

BABA has been the topic of a number of recent analyst reports. Susquehanna decreased their target price on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a report on Monday, August 19th. JPMorgan Chase & Co. upped their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Bank of America increased their target price on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research note on Friday, August 23rd. Finally, Truist Financial cut their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Price Performance

The stock has a market capitalization of $228.55 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 0.43 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The business’s fifty day moving average price is $80.79 and its 200-day moving average price is $77.66.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same quarter in the prior year, the business posted $2.47 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. On average, research analysts forecast that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BABA. H&H International Investment LLC grew its position in shares of Alibaba Group by 63.1% in the fourth quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock valued at $384,390,000 after purchasing an additional 1,918,730 shares in the last quarter. Ruffer LLP lifted its holdings in shares of 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 acquiring an additional 1,828,019 shares during the last quarter. AMF Tjanstepension AB boosted its position in Alibaba Group by 79.5% during the second quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after buying an additional 1,156,479 shares during the period. Marshall Wace LLP increased its stake 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 purchasing an additional 1,130,643 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Alibaba Group by 523.8% in the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after acquiring an additional 1,121,500 shares during the period. 13.47% of the stock is currently 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.