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

Alibaba Group Holding Limited (NYSE:BABA) shares shot up 0.4% during mid-day trading on Wednesday . The company traded as high as $85.89 and last traded at $85.52. 5,235,414 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 17,372,986 shares. The stock had previously closed at $85.14.

Analyst Ratings Changes

BABA has been the topic of a number of research analyst reports. Mizuho raised their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Benchmark reaffirmed a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Friday, November 15th. Loop Capital reiterated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a research report on Thursday, August 29th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a report on Monday, October 7th. Finally, Bank of America raised their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Trading Up 0.7 %

The stock has a market cap of $205.31 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 0.44 and a beta of 0.30. The business has a 50-day moving average of $90.83 and a 200-day moving average of $86.68. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last posted its 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. The firm had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 earnings per share. As a group, research analysts forecast that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new stake in Alibaba Group during the 2nd quarter valued at approximately $27,000. Concord Wealth Partners raised its stake in Alibaba Group by 155.0% during 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. Highline Wealth Partners LLC bought a new stake in Alibaba Group in the 3rd quarter valued at $36,000. Asset Dedication LLC grew its position in Alibaba Group by 315.0% in the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 400 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Alibaba Group during the 2nd quarter worth about $38,000. Institutional investors 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.