Alibaba Group (NYSE:BABA) Trading 8.9% Higher – Here’s Why

Shares of Alibaba Group Holding Limited (NYSE:BABA) shot up 8.9% during trading on Monday . The company traded as high as $94.04 and last traded at $93.59. 15,937,763 shares were traded during mid-day trading, a decline of 9% from the average session volume of 17,497,426 shares. The stock had previously closed at $85.93.

Analyst Ratings Changes

BABA has been the topic of several analyst reports. Barclays dropped their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Mizuho upped their price target on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Sanford C. Bernstein raised their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Finally, Truist Financial decreased their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Stock Up 7.6 %

The business’s 50 day simple moving average is $97.09 and its 200 day simple moving average is $86.07. The company has a market capitalization of $220.88 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 0.42 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.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating the consensus estimate of $1.87 by $13.19. The business had revenue of $236.50 billion during 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 firm’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. As a group, analysts forecast that Alibaba Group Holding Limited will post 8.44 EPS for the current year.

Hedge Funds Weigh In On Alibaba Group

Several institutional investors and hedge funds have recently modified their holdings of BABA. Primecap Management Co. CA increased its position in Alibaba Group by 5.2% during the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after buying an additional 1,074,175 shares during the last quarter. Sanders Capital LLC boosted its stake in Alibaba Group by 0.3% during the 3rd quarter. Sanders Capital LLC now owns 18,460,434 shares of the specialty retailer’s stock valued at $1,959,021,000 after purchasing an additional 60,667 shares during the period. Hhlr Advisors LTD. increased its position in Alibaba Group by 64.1% during the third quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after acquiring an additional 3,448,152 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after buying an additional 5,715,155 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Alibaba Group by 3,180.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock worth $409,385,000 after acquiring an additional 3,740,150 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.