Alibaba Group (NYSE:BABA) Trading 1.2% Higher – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s stock price shot up 1.2% during trading on Tuesday . The company traded as high as $85.35 and last traded at $85.13. 2,758,656 shares were traded during mid-day trading, a decline of 84% from the average session volume of 17,231,617 shares. The stock had previously closed at $84.13.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BABA. Mizuho raised their price target on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. StockNews.com lowered Alibaba Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 14th. Bank of America upped their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird boosted their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Trading Up 0.8 %

The company has a market capitalization of $202.23 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 0.44 and a beta of 0.30. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $89.58 and its two-hundred day simple moving average is $86.97.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. The company had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. Alibaba Group’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.82 earnings per share. Research analysts forecast that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal year.

Institutional Trading of Alibaba Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Alibaba Group in the second quarter worth $27,000. Concord Wealth Partners grew its holdings in shares of Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 155 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in Alibaba Group during the third quarter worth about $36,000. Asset Dedication LLC grew its stake in Alibaba Group by 315.0% in the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 400 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Alibaba Group during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

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.