Alibaba Group (NYSE:BABA) Trading 2.3% Higher – Should You Buy?

Alibaba Group Holding Limited (NYSE:BABA) shares traded up 2.3% during trading on Wednesday . The company traded as high as $87.54 and last traded at $87.17. 5,452,373 shares were traded during trading, a decline of 69% from the average session volume of 17,597,670 shares. The stock had previously closed at $85.18.

Wall Street Analysts Forecast Growth

BABA has been the subject of several analyst reports. Benchmark reissued a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a report on Friday, November 15th. Bank of America raised their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Truist Financial decreased their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Robert W. Baird lifted their target price on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Barclays decreased their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Stock Up 1.7 %

The stock has a market capitalization of $207.18 billion, a P/E ratio of 17.68, a PEG ratio of 0.42 and a beta of 0.35. The stock’s fifty day moving average is $98.47 and its two-hundred day moving average is $86.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37.

Alibaba Group (NYSE:BABA) last issued its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. The business had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 EPS. As a group, research analysts predict 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 BABA. Synovus Financial Corp lifted its position in Alibaba Group by 9.5% in the 3rd quarter. Synovus Financial Corp now owns 5,533 shares of the specialty retailer’s stock worth $587,000 after buying an additional 481 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Alibaba Group in the 3rd quarter worth about $89,000. World Investment Advisors LLC lifted its holdings in shares of Alibaba Group by 17.0% during the 3rd quarter. World Investment Advisors LLC now owns 10,252 shares of the specialty retailer’s stock valued at $1,088,000 after buying an additional 1,486 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Alibaba Group by 29.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 59,025 shares of the specialty retailer’s stock valued at $6,264,000 after buying an additional 13,351 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its holdings in Alibaba Group by 21.9% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 114,981 shares of the specialty retailer’s stock worth $12,202,000 after buying an additional 20,654 shares during 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.