Alibaba Group (NYSE:BABA) Trading 1.5% Higher

Alibaba Group Holding Limited (NYSE:BABA) shares shot up 1.5% during trading on Thursday . The stock traded as high as $81.24 and last traded at $80.84. 2,816,729 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 16,586,674 shares. The stock had previously closed at $79.62.

Analyst Ratings Changes

Several brokerages have recently weighed in on BABA. Loop Capital reiterated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a research report on Thursday. Jefferies Financial Group reissued a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Truist Financial dropped their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Finally, Bank of America lifted their price target on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Three 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 currently has a consensus rating of “Moderate Buy” and an average price target of $107.61.

Alibaba Group Stock Performance

The company has a market cap of $205.72 billion, a PE ratio of 18.84, a P/E/G ratio of 0.48 and a beta of 0.32. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average is $77.57 and its 200-day moving average is $76.46.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. Alibaba Group’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.47 earnings per share. As a group, research analysts predict that Alibaba Group Holding Limited will post 6.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. International Assets Investment Management LLC grew its position in shares of Alibaba Group by 168.6% during the fourth quarter. International Assets Investment Management LLC now owns 10,245 shares of the specialty retailer’s stock worth $794,000 after purchasing an additional 6,431 shares in the last quarter. Choreo LLC raised its position in shares of Alibaba Group by 13.0% during the fourth quarter. Choreo LLC now owns 3,209 shares of the specialty retailer’s stock valued at $252,000 after buying an additional 369 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its holdings in shares of Alibaba Group by 17.9% in the fourth quarter. Pekin Hardy Strauss Inc. now owns 7,882 shares of the specialty retailer’s stock worth $611,000 after buying an additional 1,195 shares in the last quarter. MONECO Advisors LLC purchased a new position in Alibaba Group during the fourth quarter valued at $388,000. Finally, Victory Capital Management Inc. increased its holdings in Alibaba Group by 16.0% in the 4th quarter. Victory Capital Management Inc. now owns 13,785 shares of the specialty retailer’s stock valued at $1,068,000 after acquiring an additional 1,899 shares during the last quarter. Hedge funds and other institutional investors 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.