Alibaba Group (NYSE:BABA) Hits New 52-Week High – Still a Buy?

Shares of Alibaba Group Holding Limited (NYSE:BABA) reached a new 52-week high during trading on Tuesday . The stock traded as high as $167.44 and last traded at $164.21, with a volume of 18631078 shares changing hands. The stock had previously closed at $162.81.

Analyst Ratings Changes

A number of analysts have recently weighed in on BABA shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $160.00 price target on shares of Alibaba Group in a report on Saturday, August 30th. Wall Street Zen cut shares of Alibaba Group from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Benchmark upped their target price on Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Zacks Research raised Alibaba Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 9th. Finally, Robert W. Baird upped their price objective on Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Alibaba Group presently has an average rating of “Buy” and an average price target of $172.81.

Alibaba Group Stock Up 8.3%

The company has a market capitalization of $421.16 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 2.00 and a beta of 0.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The firm’s fifty day moving average price is $132.17 and its 200-day moving average price is $124.18.

Institutional Trading of Alibaba Group

Hedge funds have recently made changes to their positions in the company. Temasek Holdings Private Ltd raised its holdings in Alibaba Group by 23.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer’s stock valued at $728,633,000 after buying an additional 1,045,789 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Alibaba Group by 52.1% during the first quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer’s stock valued at $303,215,000 after acquiring an additional 785,494 shares during the last quarter. Causeway Capital Management LLC lifted its holdings in shares of Alibaba Group by 42.6% during the first quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer’s stock worth $179,305,000 after purchasing an additional 404,842 shares during the period. WCM Investment Management LLC bought a new stake in shares of Alibaba Group in the first quarter worth $4,074,000. Finally, KMG Fiduciary Partners LLC bought a new stake in shares of Alibaba Group in the first quarter worth $1,948,000. 13.47% of the stock is 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.