Alibaba Group (NYSE:BABA) Trading Up 1.7%

Alibaba Group Holding Limited (NYSE:BABA) shares rose 1.7% during mid-day trading on Tuesday . The company traded as high as $85.77 and last traded at $85.02. Approximately 3,936,203 shares changed hands during trading, a decline of 76% from the average daily volume of 16,293,742 shares. The stock had previously closed at $83.60.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday, August 16th. Loop Capital reiterated a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Susquehanna dropped their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a report on Monday, August 19th. Bank of America increased their price target on Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Sanford C. Bernstein boosted their price objective on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average price target of $107.61.

Alibaba Group Stock Up 4.8 %

The firm has a market cap of $224.49 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. The stock’s 50 day simple moving average is $80.41 and its 200 day simple moving average is $77.40. 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 posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share 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 net margin of 7.31% and a return on equity of 12.08%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.47 EPS. Research analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Hedge Funds Weigh In On Alibaba Group

Several large investors have recently bought and sold shares of BABA. Principal Financial Group Inc. purchased a new position in Alibaba Group during the fourth quarter worth about $1,651,000. Level Four Advisory Services LLC boosted its stake in shares of Alibaba Group by 7.4% in the 4th quarter. Level Four Advisory Services LLC now owns 3,726 shares of the specialty retailer’s stock worth $289,000 after buying an additional 258 shares during the last quarter. Thoroughbred Financial Services LLC bought a new position in shares of Alibaba Group in the fourth quarter valued at approximately $320,000. Assetmark Inc. increased its position in shares of Alibaba Group by 15.6% during the fourth quarter. Assetmark Inc. now owns 3,254 shares of the specialty retailer’s stock valued at $252,000 after acquiring an additional 438 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Alibaba Group by 30.3% during the fourth quarter. Franklin Resources Inc. now owns 532,668 shares of the specialty retailer’s stock worth $41,287,000 after acquiring an additional 123,925 shares during the period. 13.47% of the stock is currently owned by institutional investors.

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.