Alibaba Group (NYSE:BABA) Trading 3.1% Higher

Alibaba Group Holding Limited (NYSE:BABA)’s stock price rose 3.1% during mid-day trading on Friday . The company traded as high as $109.43 and last traded at $108.29. Approximately 24,881,421 shares were traded during trading, an increase of 48% from the average daily volume of 16,773,756 shares. The stock had previously closed at $105.07.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BABA. Sanford C. Bernstein lifted their price objective on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, August 16th. Robert W. Baird upped their price objective on shares of Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Truist Financial dropped their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Jefferies Financial Group reiterated a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a research report on Friday, July 26th. Finally, Morgan Stanley restated an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Stock Up 2.7 %

The stock’s fifty day simple moving average is $82.34 and its two-hundred day simple moving average is $78.26. The stock has a market capitalization of $273.75 billion, a P/E ratio of 25.24, a price-to-earnings-growth ratio of 0.46 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

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 the consensus estimate of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same period last year, the company earned $2.47 EPS. Alibaba Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, research analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

Hedge funds have recently bought and sold shares of the company. ICA Group Wealth Management LLC boosted its holdings in shares of Alibaba Group by 14.6% during the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after buying an additional 128 shares in the last quarter. Bogart Wealth LLC grew its holdings in Alibaba Group by 16.7% in the first quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 142 shares during the period. North Star Investment Management Corp. increased its stake in Alibaba Group by 11.2% in the first quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock valued at $111,000 after purchasing an additional 154 shares in the last quarter. EPIQ Capital Group LLC raised its holdings in shares of Alibaba Group by 0.3% during the second quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock valued at $3,396,000 after purchasing an additional 157 shares during the period. Finally, Evolution Wealth Advisors LLC boosted its position in shares of Alibaba Group by 4.1% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 4,004 shares of the specialty retailer’s stock worth $288,000 after purchasing an additional 158 shares in the last quarter. Institutional investors own 13.47% of the company’s stock.

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.