Alibaba Group (NYSE:BABA) Trading Up 4.6% After Analyst Upgrade

Alibaba Group Holding Limited (NYSE:BABA)’s share price shot up 4.6% during mid-day trading on Monday after Jefferies Financial Group raised their price target on the stock from $178.00 to $230.00. Jefferies Financial Group currently has a buy rating on the stock. Alibaba Group traded as high as $181.34 and last traded at $179.89. 21,295,725 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 21,642,699 shares. The stock had previously closed at $171.91.

Several other equities analysts also recently weighed in on BABA. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of Alibaba Group in a research note on Saturday, August 30th. Susquehanna raised their price target on Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research report on Thursday, September 18th. Robert W. Baird lifted 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, September 24th. Arete raised shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 target price for the company in a research note on Wednesday, September 3rd. Finally, Zacks Research upgraded shares of Alibaba Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 9th. One investment 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. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $176.06.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Momentum Wealth Planning LLC bought a new position in Alibaba Group during the 2nd quarter worth approximately $421,000. Canal Capital Management LLC increased its holdings in shares of Alibaba Group by 4.2% in the second quarter. Canal Capital Management LLC now owns 40,901 shares of the specialty retailer’s stock valued at $4,639,000 after buying an additional 1,650 shares in the last quarter. Centaurus Financial Inc. raised its holdings in shares of Alibaba Group by 4.7% during the second quarter. Centaurus Financial Inc. now owns 2,103 shares of the specialty retailer’s stock valued at $238,000 after acquiring an additional 94 shares during the period. Infini Capital Management Ltd raised its position in Alibaba Group by 1,215,800.0% during the second quarter. Infini Capital Management Ltd now owns 303,975 shares of the specialty retailer’s stock valued at $34,474,000 after buying an additional 303,950 shares during the period. Finally, Orion Porfolio Solutions LLC increased its stake in shares of Alibaba Group by 3.9% in the second quarter. Orion Porfolio Solutions LLC now owns 33,111 shares of the specialty retailer’s stock worth $3,755,000 after acquiring an additional 1,239 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Price Performance

The stock’s 50 day simple moving average is $134.37 and its 200-day simple moving average is $124.52. The stock has a market capitalization of $428.88 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 1.98 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.

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.