Alibaba Group (NYSE:BABA) Shares Gap Up – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $157.91, but opened at $163.83. Alibaba Group shares last traded at $161.7080, with a volume of 4,168,732 shares traded.

Analyst Ratings Changes

Several analysts recently commented on the stock. Benchmark raised their price objective on shares of Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. lowered their price target on Alibaba Group from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. CLSA lifted their price objective on Alibaba Group from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 2nd. UBS Group restated a “buy” rating and issued a $162.00 price target on shares of Alibaba Group in a research report on Sunday, August 31st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Alibaba Group in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average target price of $190.18.

Alibaba Group Trading Up 1.9%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a fifty day moving average of $166.95 and a 200 day moving average of $136.11. The firm has a market capitalization of $383.81 billion, a PE ratio of 18.78, a P/E/G ratio of 2.40 and a beta of 0.19.

Hedge Funds Weigh In On Alibaba Group

A number of institutional investors have recently added to or reduced their stakes in BABA. Brighton Jones LLC grew its stake in Alibaba Group by 40.4% during the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock valued at $289,000 after purchasing an additional 981 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Alibaba Group by 10.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,050 shares of the specialty retailer’s stock valued at $139,000 after acquiring an additional 100 shares in the last quarter. Xponance Inc. boosted its holdings in Alibaba Group by 58.6% in the first quarter. Xponance Inc. now owns 4,296 shares of the specialty retailer’s stock worth $568,000 after purchasing an additional 1,587 shares during the period. Stephens Inc. AR increased its stake in Alibaba Group by 1.6% during the first quarter. Stephens Inc. AR now owns 7,366 shares of the specialty retailer’s stock valued at $974,000 after purchasing an additional 118 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in shares of Alibaba Group by 1.0% during the first quarter. Bleakley Financial Group LLC now owns 11,961 shares of the specialty retailer’s stock worth $1,582,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

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.