Alibaba Group (NYSE:BABA) Trading 0.4% Higher – Here’s What Happened

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded up 0.4% during trading on Tuesday . The company traded as high as $101.45 and last traded at $100.37. 6,266,828 shares traded hands during trading, a decline of 65% from the average session volume of 17,798,908 shares. The stock had previously closed at $99.93.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BABA shares. Susquehanna lowered their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Bank of America boosted their target price 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. Loop Capital reaffirmed a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research note on Thursday, August 29th. JPMorgan Chase & Co. increased their price target on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, Barclays lifted their price objective on Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Alibaba Group Trading Up 0.0 %

The company has a market capitalization of $253.67 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 0.55 and a beta of 0.35. The business’s 50-day simple moving average is $94.40 and its 200-day simple moving average is $83.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. During the same quarter last year, the firm earned $2.47 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. On average, research analysts expect that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BABA. First Command Advisory Services Inc. purchased a new stake in Alibaba Group in the 2nd quarter valued at about $25,000. GPS Wealth Strategies Group LLC raised its position in shares of Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Alibaba Group during the 2nd quarter worth $27,000. Concord Wealth Partners lifted its holdings in shares of Alibaba Group by 155.0% in the third 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 period. Finally, Highline Wealth Partners LLC purchased a new stake in Alibaba Group in the 3rd quarter worth about $36,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

About Alibaba Group

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.