Alibaba Group (NYSE:BABA) Sees Strong Trading Volume

Alibaba Group Holding Limited (NYSE:BABA) saw unusually-high trading volume on Wednesday . Approximately 13,948,989 shares were traded during mid-day trading, a decline of 19% from the previous session’s volume of 17,273,586 shares.The stock last traded at $115.46 and had previously closed at $112.74.

Analysts Set New Price Targets

A number of research firms have recently commented on BABA. Susquehanna cut their target price on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Truist Financial dropped their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Morgan Stanley reissued an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. Sanford C. Bernstein lifted their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. Finally, Robert W. Baird boosted their price target on shares of Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Trading Up 0.3 %

The company has a market cap of $287.04 billion, a P/E ratio of 26.34, a PEG ratio of 0.46 and a beta of 0.33. 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 business has a fifty day moving average price of $84.31 and a 200-day moving average price of $79.02.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.47 earnings per share. On average, 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

Several large investors have recently added to or reduced their stakes in BABA. First Command Advisory Services Inc. acquired a new stake in Alibaba Group during the second quarter worth approximately $25,000. GPS Wealth Strategies Group LLC grew its stake in Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 209 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Alibaba Group in the second quarter valued at approximately $27,000. Register Financial Advisors LLC acquired a new stake in Alibaba Group in the first quarter valued at approximately $31,000. Finally, Asset Dedication LLC grew its stake in Alibaba Group by 315.0% in the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds 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.