Alibaba Group (NYSE:BABA) Stock Price Up 1.7% – Time to Buy?

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on BABA shares. Bank of America upped their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday, November 15th. Truist Financial dropped their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Mizuho upped their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird boosted 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. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Trading Up 1.7 %

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 company has a market cap of $207.18 billion, a PE ratio of 17.56, a PEG ratio of 0.42 and a beta of 0.35. The stock has a 50 day moving average price of $98.51 and a 200 day moving average price of $86.01.

Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating 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 firm had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. During the same quarter in the previous year, the business posted $1.82 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts predict that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds have recently added to or reduced their stakes in the company. Generate Investment Management Ltd purchased a new position in shares of Alibaba Group in the third quarter worth $12,656,000. SRN Advisors LLC raised its position in Alibaba Group by 76.7% in the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock worth $1,611,000 after buying an additional 9,663 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in Alibaba Group by 63.9% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock valued at $3,047,000 after acquiring an additional 11,192 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Alibaba Group by 6.5% in the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock worth $87,327,000 after acquiring an additional 50,000 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Alibaba Group by 7,734.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock valued at $28,632,000 after purchasing an additional 266,361 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.