Alibaba Group (NYSE:BABA) Trading Up 2.6%

Alibaba Group Holding Limited (NYSE:BABA)’s stock price rose 2.6% during mid-day trading on Monday . The stock traded as high as $112.22 and last traded at $110.12. Approximately 21,572,254 shares traded hands during mid-day trading, an increase of 27% from the average daily volume of 16,948,959 shares. The stock had previously closed at $107.33.

Analyst Upgrades and Downgrades

BABA has been the topic of several recent research reports. Loop Capital restated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a research report on Thursday, August 29th. Bank of America lifted their target price on Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Sanford C. Bernstein lifted their price target 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. Morgan Stanley reissued an “equal weight” rating and issued a $90.00 price target on shares of Alibaba Group in a research note on Friday, August 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a research note on Friday, July 26th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Price Performance

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 firm has a market cap of $271.72 billion, a P/E ratio of 25.67, a PEG ratio of 0.46 and a beta of 0.33. The business has a fifty day moving average of $82.98 and a 200 day moving average of $78.51.

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 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 business had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter last year, the company posted $2.47 earnings per share. Alibaba Group’s quarterly revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Institutional Investors Weigh In On Alibaba Group

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