Alibaba Group (NYSE:BABA) Stock Price Up 0.8% – Here’s Why

Shares of Alibaba Group Holding Limited (NYSE:BABA) were up 0.8% on Wednesday . The stock traded as high as $85.35 and last traded at $84.79. Approximately 7,391,349 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 17,251,066 shares. The stock had previously closed at $84.13.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BABA shares. Mizuho raised their target price on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Benchmark reissued a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Friday, November 15th. Bank of America boosted their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a research report on Monday, October 7th. Finally, StockNews.com lowered shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group Price Performance

The stock has a market capitalization of $202.61 billion, a P/E ratio of 17.23, a PEG ratio of 0.44 and a beta of 0.30. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $89.58 and a two-hundred day simple moving average of $86.97.

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

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors have recently made changes to their positions in the stock. Confluence Investment Management LLC grew its position in shares of Alibaba Group by 20.5% during the 4th quarter. Confluence Investment Management LLC now owns 2,425 shares of the specialty retailer’s stock worth $206,000 after buying an additional 412 shares during the period. Principal Financial Group Inc. boosted its stake in Alibaba Group by 6.2% during the 3rd quarter. Principal Financial Group Inc. now owns 52,563 shares of the specialty retailer’s stock worth $5,578,000 after acquiring an additional 3,046 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in Alibaba Group by 41.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 29,534 shares of the specialty retailer’s stock valued at $3,203,000 after purchasing an additional 8,685 shares during the period. Garde Capital Inc. bought a new stake in Alibaba Group in the third quarter valued at approximately $124,000. Finally, Inspire Trust Co. N.A. raised its holdings in Alibaba Group by 25.0% in the third quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the specialty retailer’s stock worth $2,122,000 after purchasing an additional 4,000 shares during the period. 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.