Alibaba Group (NYSE:BABA) Stock Price Up 1.7% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA) was up 1.7% on Monday . The stock traded as high as $91.22 and last traded at $90.66. Approximately 10,075,974 shares were traded during trading, a decline of 18% from the average daily volume of 12,324,376 shares. The stock had previously closed at $89.14.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BABA shares. Benchmark reaffirmed a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Friday, November 15th. Barclays dropped their price objective on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a report on Monday, October 7th. Mizuho raised their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird raised their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Two 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 an average price target of $115.13.

Alibaba Group Trading Up 0.8 %

The stock has a market capitalization of $230.17 billion, a P/E ratio of 19.63, a PEG ratio of 0.37 and a beta of 0.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The business’s 50 day simple moving average is $85.73 and its 200-day simple moving average is $88.46.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. The company had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.82 earnings per share. As a group, analysts forecast that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Concord Wealth Partners increased its stake in Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 155 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Alibaba Group in the 2nd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in Alibaba Group in the 3rd quarter valued at $36,000. Decker Retirement Planning Inc. acquired a new stake in Alibaba Group in the 4th quarter valued at $31,000. Finally, Assetmark Inc. increased its stake in Alibaba Group by 225.4% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 275 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

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.