Alibaba Group (NYSE:BABA) Trading 0.6% Higher – Should You Buy?

Alibaba Group Holding Limited (NYSE:BABA)’s stock price shot up 0.6% during trading on Thursday . The company traded as high as $85.43 and last traded at $85.28. 3,762,906 shares were traded during mid-day trading, a decline of 78% from the average session volume of 17,251,066 shares. The stock had previously closed at $84.79.

Analyst Ratings Changes

BABA has been the topic of several recent research reports. Bank of America increased their target price on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research 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 research note on Monday, October 7th. Robert W. Baird increased their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Mizuho boosted their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Benchmark restated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Stock Up 0.7 %

The stock has a market cap of $204.02 billion, a PE ratio of 17.35, a P/E/G ratio of 0.44 and a beta of 0.30. The business has a 50 day moving average price of $89.11 and a 200 day moving average price of $87.03. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. During the same quarter last year, the company earned $1.82 EPS. The business’s revenue was up 5.2% on a year-over-year basis. Equities research analysts expect that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Institutional Trading of Alibaba Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Concord Wealth Partners increased its stake in Alibaba Group by 155.0% during the 3rd 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. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Alibaba Group during the second quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new position in Alibaba Group in the 3rd quarter valued at $36,000. Assetmark Inc. lifted its holdings in Alibaba Group by 225.4% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 275 shares in the last quarter. Finally, Asset Dedication LLC boosted its stake in Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 400 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other 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.