Alibaba Group (NYSE:BABA) Shares Up 3.7% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA) shot up 3.7% on Monday . The stock traded as high as $147.10 and last traded at $146.28. 15,606,012 shares changed hands during trading, a decline of 17% from the average session volume of 18,831,173 shares. The stock had previously closed at $141.10.

Analyst Upgrades and Downgrades

BABA has been the subject of several research analyst reports. Arete Research raised Alibaba Group to a “strong-buy” rating in a research note on Friday, February 28th. Barclays increased their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Bank of America boosted their price objective on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Morgan Stanley upgraded shares of Alibaba Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $100.00 to $180.00 in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alibaba Group has a consensus rating of “Buy” and a consensus target price of $144.07.

Alibaba Group Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $338.97 billion, a P/E ratio of 20.62, a PEG ratio of 0.61 and a beta of 0.27. The stock’s fifty day moving average is $113.14 and its 200-day moving average is $99.73.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The company had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. On average, equities analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Hedge Funds Weigh In On Alibaba Group

A number of institutional investors have recently modified their holdings of the company. Lansforsakringar Fondforvaltning AB publ bought a new position in Alibaba Group in the 4th quarter worth $289,000. Lighthouse Financial LLC acquired a new stake in shares of Alibaba Group in the fourth quarter valued at about $237,000. Fluent Financial LLC increased its stake in shares of Alibaba Group by 22.6% in the fourth quarter. Fluent Financial LLC now owns 10,627 shares of the specialty retailer’s stock worth $901,000 after purchasing an additional 1,957 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Alibaba Group by 3.6% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer’s stock worth $266,000 after purchasing an additional 108 shares during the last quarter. Finally, LM Advisors LLC bought a new stake in Alibaba Group during the 4th quarter valued at approximately $855,000. 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.