Alibaba Group (NYSE:BABA) Shares Up 1% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s share price rose 1% during trading on Thursday . The company traded as high as $87.27 and last traded at $86.38. Approximately 3,540,142 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 17,316,305 shares. The stock had previously closed at $85.52.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Robert W. Baird raised their price target 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. StockNews.com lowered Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Mizuho boosted their price target on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Barclays reduced their target price on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Finally, Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.07.

Alibaba Group Price Performance

The business has a 50-day moving average price of $91.11 and a 200 day moving average price of $86.68. The company has a market cap of $205.40 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 0.44 and a beta of 0.30. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16.

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

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in Alibaba Group by 6.2% during the third quarter. Principal Financial Group Inc. now owns 52,563 shares of the specialty retailer’s stock valued at $5,578,000 after buying an additional 3,046 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Alibaba Group by 41.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 29,534 shares of the specialty retailer’s stock valued at $3,203,000 after buying an additional 8,685 shares during the last quarter. Garde Capital Inc. bought a new stake in shares of Alibaba Group in the 3rd quarter valued at approximately $124,000. Inspire Trust Co. N.A. increased its holdings in Alibaba Group by 25.0% in the third quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the specialty retailer’s stock worth $2,122,000 after buying an additional 4,000 shares during the last quarter. Finally, Synovus Financial Corp raised its position in Alibaba Group by 9.5% during the third quarter. Synovus Financial Corp now owns 5,533 shares of the specialty retailer’s stock valued at $587,000 after acquiring an additional 481 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

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.