Alibaba Group (NYSE:BABA) Trading Up 0.4% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s share price traded up 0.4% during mid-day trading on Wednesday . The company traded as high as $85.89 and last traded at $85.52. 5,235,414 shares traded hands during trading, a decline of 70% from the average session volume of 17,372,986 shares. The stock had previously closed at $85.14.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BABA shares. Bank of America increased their price target on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Benchmark reissued a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Friday, November 15th. Barclays dropped their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a report on Monday, October 7th. Finally, StockNews.com downgraded Alibaba Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Alibaba Group presently has an average rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group Stock Performance

The stock’s fifty day simple moving average is $90.83 and its 200-day simple moving average is $86.68. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $205.31 billion, a PE ratio of 17.46, a PEG ratio of 0.44 and a beta of 0.30.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. During the same period in the prior year, the company earned $1.82 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. On average, research analysts predict that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

A number of institutional investors have recently made changes to their positions in BABA. Concord Wealth Partners grew its stake in Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 155 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Alibaba Group during the 2nd quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new position in Alibaba Group in the 3rd quarter valued at about $36,000. Assetmark Inc. grew its position in shares of Alibaba Group by 225.4% during the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after buying an additional 275 shares in the last quarter. Finally, Asset Dedication LLC grew its stake in Alibaba Group by 315.0% in the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $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.