Alibaba Group (NYSE:BABA) Stock Price Up 5.6%

Shares of Alibaba Group Holding Limited (NYSE:BABA) rose 5.6% during mid-day trading on Tuesday . The company traded as high as $96.58 and last traded at $95.13. Approximately 21,181,346 shares were traded during trading, an increase of 30% from the average daily volume of 16,317,592 shares. The stock had previously closed at $90.09.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Sanford C. Bernstein lifted their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. JPMorgan Chase & Co. lifted 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. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. Robert W. Baird lifted their price objective on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Finally, Loop Capital reiterated a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Stock Performance

The firm has a market cap of $245.43 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. The company has a 50 day simple moving average of $81.03 and a 200-day simple moving average of $77.78. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.47 EPS. As a group, equities research analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Hedge Funds Weigh In On Alibaba Group

A number of large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. purchased a new stake in shares of Alibaba Group during the fourth quarter worth about $1,651,000. Assetmark Inc. grew its position in shares of Alibaba Group by 15.6% in the 4th quarter. Assetmark Inc. now owns 3,254 shares of the specialty retailer’s stock worth $252,000 after buying an additional 438 shares during the last quarter. SageView Advisory Group LLC increased its stake in shares of Alibaba Group by 135.3% during the fourth quarter. SageView Advisory Group LLC now owns 7,536 shares of the specialty retailer’s stock valued at $545,000 after buying an additional 4,333 shares during the period. Cape Investment Advisory Inc. raised its holdings in shares of Alibaba Group by 23.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,797 shares of the specialty retailer’s stock valued at $139,000 after acquiring an additional 336 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in Alibaba Group by 214.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 726,148 shares of the specialty retailer’s stock valued at $56,284,000 after acquiring an additional 495,518 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.