Alibaba Group (NYSE:BABA) Trading 2.9% Higher

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded up 2.9% during trading on Monday . The company traded as high as $84.75 and last traded at $83.34. 20,027,300 shares were traded during mid-day trading, an increase of 20% from the average session volume of 16,674,639 shares. The stock had previously closed at $81.02.

Analysts Set New Price Targets

A number of research analysts have recently commented on BABA shares. Loop Capital reissued a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Barclays lowered their price target on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Truist Financial cut their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. 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. Finally, JPMorgan Chase & Co. raised their price target on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Stock Performance

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock’s 50-day simple moving average is $78.34 and its 200-day simple moving average is $76.77. The stock has a market cap of $208.71 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 0.42 and a beta of 0.32.

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

Institutional Trading of Alibaba Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. First Command Advisory Services Inc. acquired a new position in Alibaba Group during the second quarter valued at approximately $25,000. EdgeRock Capital LLC bought a new position in shares of Alibaba Group in the 4th quarter valued at $26,000. GPS Wealth Strategies Group LLC raised its holdings in shares of Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after buying an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Alibaba Group during the 2nd quarter worth $27,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Alibaba Group during the 1st quarter worth $31,000. Institutional investors own 13.47% of the company’s stock.

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.