Alibaba Group (NYSE:BABA) Shares Up 3.9%

Alibaba Group Holding Limited (NYSE:BABA)’s share price traded up 3.9% during mid-day trading on Thursday . The stock traded as high as $87.88 and last traded at $87.68. 7,234,479 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 16,225,110 shares. The stock had previously closed at $84.42.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BABA. Morgan Stanley reissued an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a report on Friday, August 23rd. Sanford C. Bernstein upped 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. Loop Capital reaffirmed a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. Susquehanna cut their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Finally, Bank of America lifted their price objective on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Stock Performance

The stock has a market capitalization of $224.47 billion, a PE ratio of 20.36, a P/E/G ratio of 0.43 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. The firm has a 50 day moving average of $80.41 and a 200-day moving average of $77.40.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion during the quarter, compared to analysts’ expectations 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 period last year, the company posted $2.47 earnings per share. Research analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Institutional Investors Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Alibaba Group during the second quarter valued at approximately $38,000. Sanctuary Advisors LLC bought a new position in shares of Alibaba Group during the 2nd quarter valued at $3,451,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Alibaba Group in the 2nd quarter valued at $27,000. SRN Advisors LLC boosted its holdings in Alibaba Group by 4.2% in the second quarter. SRN Advisors LLC now owns 23,189 shares of the specialty retailer’s stock worth $1,670,000 after purchasing an additional 930 shares in the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new position in Alibaba Group during the second quarter worth $6,185,000. 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.