Alibaba Group (NYSE:BABA) Stock Price Up 1.9% – Here’s Why

Shares of Alibaba Group Holding Limited (NYSE:BABA) shot up 1.9% during mid-day trading on Thursday . The stock traded as high as $101.74 and last traded at $101.15. 5,190,782 shares changed hands during trading, a decline of 74% from the average session volume of 20,146,539 shares. The stock had previously closed at $99.28.

Wall Street Analyst Weigh In

BABA has been the subject of several recent analyst reports. Robert W. Baird lifted their price target on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Barclays reduced their target price 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. Benchmark reissued a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a report on Friday, November 15th. Citigroup increased their price objective on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, Mizuho boosted their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.13.

Alibaba Group Stock Performance

The stock has a market cap of $246.69 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 0.42 and a beta of 0.31. 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 firm has a fifty day moving average of $88.04 and a 200 day moving average of $89.60.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BABA. Concord Wealth Partners lifted its stake in shares of 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 purchasing an additional 155 shares during the last quarter. Decker Retirement Planning Inc. acquired a new position in Alibaba Group in the fourth quarter valued at about $31,000. Sierra Ocean LLC purchased a new position in Alibaba Group during the fourth quarter worth about $32,000. Highline Wealth Partners LLC acquired a new stake in shares of Alibaba Group during the third quarter valued at about $36,000. Finally, Assetmark Inc. raised its stake in shares of 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 acquiring an additional 275 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

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.