Alibaba Group (NYSE:BABA) Trading 2% Higher on Analyst Upgrade

Alibaba Group Holding Limited (NYSE:BABA) shares traded up 2% during trading on Friday after Robert W. Baird raised their price target on the stock from $88.00 to $110.00. Robert W. Baird currently has an outperform rating on the stock. Alibaba Group traded as high as $98.90 and last traded at $98.24. 5,498,656 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 17,804,637 shares. The stock had previously closed at $96.36.

Several other research analysts have also recently weighed in on the company. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research report on Monday, October 7th. Susquehanna decreased their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Loop Capital reiterated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a research report on Thursday, August 29th. Benchmark reiterated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research note on Friday, August 16th. Finally, Sanford C. Bernstein raised their price objective on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC grew its holdings in Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 128 shares during the period. Cornerstone Wealth Management LLC raised its stake in shares of Alibaba Group by 4.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock worth $361,000 after purchasing an additional 139 shares during the period. North Star Investment Management Corp. boosted its stake in Alibaba Group by 11.2% in the first quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock valued at $111,000 after acquiring an additional 154 shares during the last quarter. Concord Wealth Partners increased its position in Alibaba Group by 155.0% in 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 during the last quarter. Finally, EPIQ Capital Group LLC grew its stake in shares of Alibaba Group by 0.3% during the 2nd quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock worth $3,396,000 after acquiring an additional 157 shares during the period. 13.47% of the stock is owned by institutional investors.

Alibaba Group Price Performance

The firm’s 50 day moving average price is $93.79 and its two-hundred day moving average price is $82.91. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market cap of $249.28 billion, a PE ratio of 22.90, a P/E/G ratio of 0.55 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. During the same quarter last year, the company posted $2.47 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, research analysts expect that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

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.