Alibaba Group (NYSE:BABA) Shares Up 0.4%

Alibaba Group Holding Limited (NYSE:BABA) shot up 0.4% on Thursday . The company traded as high as $85.58 and last traded at $85.11. 2,894,461 shares traded hands during trading, a decline of 82% from the average session volume of 16,389,053 shares. The stock had previously closed at $84.81.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BABA shares. Susquehanna cut their target price on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Mizuho decreased their target price on shares of Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Bank of America upped their price target on Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Benchmark reissued a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price target on shares of Alibaba Group in a research note on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Alibaba Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Price Performance

The company has a market capitalization of $216.98 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 0.41 and a beta of 0.33. The firm has a 50-day simple moving average of $79.46 and a two-hundred day simple moving average of $77.08. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The company had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.47 earnings per share. As a group, analysts predict that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

Several institutional investors and hedge funds have recently modified their holdings of BABA. Fiduciary Alliance LLC raised its stake in shares of Alibaba Group by 154.1% during the 1st quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock worth $4,052,000 after buying an additional 33,490 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Alibaba Group by 462.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock valued at $12,275,000 after purchasing an additional 139,134 shares during the period. SRN Advisors LLC raised its position in shares of Alibaba Group by 76.7% during the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock worth $1,611,000 after purchasing an additional 9,663 shares during the last quarter. ORG Partners LLC lifted its stake in Alibaba Group by 52,685.7% in the 1st quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock valued at $813,000 after buying an additional 11,064 shares in the last quarter. Finally, Leo Wealth LLC acquired a new stake in Alibaba Group in the 4th quarter worth about $1,734,000. 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.