Alibaba Group (NYSE:BABA) Reaches New 1-Year High at $113.11

Alibaba Group Holding Limited (NYSE:BABA)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $113.11 and last traded at $113.11, with a volume of 2750650 shares changing hands. The stock had previously closed at $107.33.

Analysts Set New Price Targets

Several brokerages have weighed in on BABA. Benchmark reissued a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Friday, August 16th. Jefferies Financial Group reissued a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a research report on Friday, July 26th. Morgan Stanley restated an “equal weight” rating and issued a $90.00 price target on shares of Alibaba Group in a research report on Friday, August 23rd. Truist Financial cut their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Loop Capital restated a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. 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, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Stock Up 5.1 %

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The company has a market cap of $286.20 billion, a P/E ratio of 25.02, a P/E/G ratio of 0.46 and a beta of 0.33. The business’s 50 day moving average is $82.98 and its 200 day moving average is $78.51.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating 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 company had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. During the same quarter in the previous year, the firm earned $2.47 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts anticipate that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fiduciary Alliance LLC raised its holdings in shares of Alibaba Group by 154.1% in the first quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock worth $4,052,000 after buying an additional 33,490 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Alibaba Group by 462.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after acquiring an additional 139,134 shares during the period. SRN Advisors LLC grew its stake in Alibaba Group by 76.7% during the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after purchasing an additional 9,663 shares during the last quarter. ORG Partners LLC increased its holdings in shares of Alibaba Group by 52,685.7% in the first quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock valued at $813,000 after purchasing an additional 11,064 shares during the period. Finally, Leo Wealth LLC purchased a new position in shares of Alibaba Group in the fourth quarter worth about $1,734,000. 13.47% of the stock is currently owned by hedge funds and other 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.