Alibaba Group (NYSE:BABA) Shares Up 1.7% – Still a Buy?

Alibaba Group Holding Limited (NYSE:BABA) was up 1.7% during trading on Thursday . The company traded as high as $87.54 and last traded at $86.59. Approximately 13,607,643 shares traded hands during trading, a decline of 23% from the average daily volume of 17,635,047 shares. The stock had previously closed at $85.18.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BABA. Robert W. Baird raised their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Bank of America lifted their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Truist Financial cut 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. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th. Finally, Loop Capital restated a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a report on Thursday, August 29th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Stock Up 0.9 %

The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $98.45 and a 200 day moving average of $86.03. The stock has a market capitalization of $209.05 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 0.43 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last posted its earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. The business had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.82 earnings per share. On average, sell-side analysts anticipate that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Institutional Trading of Alibaba Group

Large investors have recently modified their holdings of the business. First Command Advisory Services Inc. purchased a new position in Alibaba Group in the second quarter valued at about $25,000. GPS Wealth Strategies Group LLC boosted its stake in shares of Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Alibaba Group during the second quarter worth approximately $27,000. Concord Wealth Partners grew its position in shares of Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares in the last quarter. Finally, Highline Wealth Partners LLC bought a new stake in shares of Alibaba Group in the third quarter worth $36,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

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.