Alibaba Group (NYSE:BABA) Trading Up 2.2% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA) was up 2.2% during mid-day trading on Friday . The company traded as high as $87.47 and last traded at $87.95. Approximately 4,254,035 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 11,521,342 shares. The stock had previously closed at $86.10.

Wall Street Analyst Weigh In

BABA has been the topic of a number of recent analyst reports. Citigroup lifted their price target on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a report on Friday, January 10th. Benchmark reiterated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Friday, November 15th. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research note on Monday, October 7th. Mizuho raised their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Barclays lowered their price objective on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.13.

Alibaba Group Stock Up 2.8 %

The firm’s 50 day moving average is $85.53 and its two-hundred day moving average is $87.99. The firm has a market cap of $210.78 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 0.37 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 data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. During the same quarter in the prior year, the firm earned $1.82 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, research analysts anticipate that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Institutional Trading of Alibaba Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its holdings in Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after purchasing an additional 5,715,155 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Alibaba Group by 3,180.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock worth $409,385,000 after purchasing an additional 3,740,150 shares during the period. Hhlr Advisors LTD. boosted its holdings in shares of Alibaba Group by 64.1% during the third quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after acquiring an additional 3,448,152 shares during the period. FMR LLC boosted its holdings in shares of Alibaba Group by 454.2% during the third quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after acquiring an additional 2,959,954 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Alibaba Group by 9,205.2% during the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after acquiring an additional 1,679,117 shares during the period. 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.