Alibaba Group (NYSE:BABA) Trading 0.2% Higher – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA) shares rose 0.2% during trading on Thursday . The company traded as high as $90.00 and last traded at $89.20. Approximately 4,574,613 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 17,471,047 shares. The stock had previously closed at $88.98.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BABA shares. Sanford C. Bernstein raised their target price 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. JPMorgan Chase & Co. boosted their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Truist Financial dropped their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Morgan Stanley restated an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a report on Friday, August 23rd. Finally, Barclays dropped their target price on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.07.

Alibaba Group Trading Up 0.2 %

The company’s fifty day moving average is $95.83 and its two-hundred day moving average is $86.23. The stock has a market cap of $213.17 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 0.42 and a beta of 0.30. 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 posted its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating the consensus estimate of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. During the same period in the prior year, the company earned $1.82 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. On average, research analysts predict that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

Several hedge funds have recently added to or reduced their stakes in BABA. Generate Investment Management Ltd acquired a new position in shares of Alibaba Group in the third quarter worth $12,656,000. Nations Financial Group Inc. IA ADV raised its stake in Alibaba Group by 63.9% in 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 purchasing an additional 11,192 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Alibaba Group by 6.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock valued at $87,327,000 after purchasing an additional 50,000 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Alibaba Group by 7,734.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock worth $28,632,000 after purchasing an additional 266,361 shares during the last quarter. Finally, Aspex Management HK Ltd purchased a new stake in shares of Alibaba Group during the third quarter worth about $115,995,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.