Alibaba Group (NYSE:BABA) Trading Up 8.1%

Alibaba Group Holding Limited (NYSE:BABA) was up 8.1% during trading on Thursday . The stock traded as high as $104.03 and last traded at $103.15. Approximately 31,639,096 shares traded hands during mid-day trading, an increase of 91% from the average daily volume of 16,554,486 shares. The stock had previously closed at $95.46.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a research note on Friday, July 26th. Sanford C. Bernstein increased their price target on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Benchmark restated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. Truist Financial dropped their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Loop Capital reissued a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Price Performance

The firm has a market capitalization of $251.85 billion, a P/E ratio of 24.04, a P/E/G ratio of 0.46 and a beta of 0.33. The business’s fifty day moving average is $81.77 and its 200 day moving average is $78.07. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last announced its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 12.08% and a net margin of 7.31%. Alibaba Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.47 earnings per share. As a group, analysts forecast that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Institutional Trading of Alibaba Group

Several large investors have recently added to or reduced their stakes in BABA. First Command Advisory Services Inc. acquired a new position in Alibaba Group during the second quarter valued at $25,000. GPS Wealth Strategies Group LLC lifted its position in shares of Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Alibaba Group during the second quarter worth approximately $27,000. Register Financial Advisors LLC purchased a new position in Alibaba Group during the first quarter valued at approximately $31,000. Finally, Asset Dedication LLC grew its position in Alibaba Group by 315.0% during the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 400 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

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.