Alibaba Group (NYSE:BABA) Stock Price Up 2.3% – Should You Buy?

Shares of Alibaba Group Holding Limited (NYSE:BABA) rose 2.3% during mid-day trading on Friday . The stock traded as high as $103.36 and last traded at $102.39. Approximately 8,654,466 shares were traded during trading, a decline of 52% from the average daily volume of 17,872,826 shares. The stock had previously closed at $100.07.

Wall Street Analysts Forecast Growth

BABA has been the topic of a number of research analyst reports. Loop Capital reiterated a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. Susquehanna reduced their target price on 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 lifted their target price on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. lifted their target price on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.63.

Alibaba Group Price Performance

The company has a 50 day simple moving average of $92.30 and a 200-day simple moving average of $82.24. The stock has a market cap of $259.92 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 0.55 and a beta of 0.35. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last announced its quarterly 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. 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 for the quarter, compared to analysts’ expectations of $248.32 billion. During the same period in the prior year, the firm earned $2.47 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BABA. AMF Tjanstepension AB boosted its stake in Alibaba Group by 79.5% during the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after purchasing an additional 1,156,479 shares in the last quarter. Marshall Wace LLP boosted its stake in Alibaba Group by 384.2% during the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock valued at $102,596,000 after purchasing an additional 1,130,643 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Alibaba Group by 523.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after purchasing an additional 1,121,500 shares in the last quarter. Primecap Management Co. CA boosted its stake in Alibaba Group by 5.2% during the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after purchasing an additional 1,074,175 shares in the last quarter. Finally, ARGA Investment Management LP boosted its stake in Alibaba Group by 39.2% during the 1st quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer’s stock valued at $259,194,000 after purchasing an additional 1,009,397 shares in the last quarter. 13.47% of the stock is owned by 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.