Alibaba Group (NYSE:BABA) Shares Up 2.3% – Still a Buy?

Alibaba Group Holding Limited (NYSE:BABA)’s share price shot up 2.3% on Wednesday . The stock traded as high as $87.54 and last traded at $87.17. 5,452,373 shares traded hands during trading, a decline of 69% from the average session volume of 17,597,670 shares. The stock had previously closed at $85.18.

Analysts Set New Price Targets

BABA has been the topic of several recent analyst reports. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a research note on Monday, October 7th. Sanford C. Bernstein increased their target price on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Mizuho upped their price target on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Bank of America raised their price objective 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. Finally, Robert W. Baird increased their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Price Performance

The business has a 50 day simple moving average of $98.47 and a 200-day simple moving average of $86.01. The company has a market capitalization of $207.18 billion, a P/E ratio of 17.56, a PEG ratio of 0.42 and a beta of 0.35. 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 during the quarter, compared to analysts’ expectations of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. Alibaba Group’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 EPS. Analysts predict that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Institutional Trading of Alibaba Group

Several hedge funds have recently added to or reduced their stakes in the business. TRUE Private Wealth Advisors increased its holdings in shares of Alibaba Group by 3.7% during the third quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock valued at $331,000 after purchasing an additional 112 shares during the period. Venturi Wealth Management LLC raised its position in shares of Alibaba Group by 6.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock worth $228,000 after buying an additional 121 shares in the last quarter. ICA Group Wealth Management LLC lifted its stake in shares of Alibaba Group by 14.6% in the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after acquiring an additional 128 shares during the period. Cornerstone Wealth Management LLC boosted its holdings in shares of Alibaba Group by 4.3% in the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock valued at $361,000 after acquiring an additional 139 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its stake in shares of Alibaba Group by 3.0% during the third quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock valued at $515,000 after acquiring an additional 143 shares during the period. 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.