Alibaba Group (NYSE:BABA) Stock Price Up 2.7%

Alibaba Group Holding Limited (NYSE:BABA)’s share price rose 2.7% during trading on Friday . The stock traded as high as $84.75 and last traded at $83.22. Approximately 9,098,271 shares changed hands during trading, a decline of 45% from the average daily volume of 16,609,586 shares. The stock had previously closed at $81.02.

Wall Street Analyst Weigh In

BABA has been the subject of several analyst reports. Loop Capital restated a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a research report on Thursday. Benchmark reiterated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. Sanford C. Bernstein lifted their price objective on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a research report on Friday, July 26th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.79 and a quick ratio of 1.79. The company’s 50-day moving average price is $77.67 and its 200-day moving average price is $76.48. The company has a market cap of $211.32 billion, a P/E ratio of 19.40, a P/E/G ratio of 0.48 and a beta of 0.32.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $14.57. The firm had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $2.47 EPS. As a group, sell-side analysts predict that Alibaba Group Holding Limited will post 6.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BABA. ICA Group Wealth Management LLC boosted its stake in shares of Alibaba Group by 14.6% during 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. Bogart Wealth LLC increased its holdings in shares of Alibaba Group by 16.7% in the first quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 142 shares during the last quarter. Legacy Advisors LLC lifted its stake in shares of Alibaba Group by 1.4% during the 4th quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer’s stock worth $826,000 after buying an additional 145 shares during the last quarter. North Star Investment Management Corp. boosted its holdings in shares of Alibaba Group by 11.2% during the 1st quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock worth $111,000 after buying an additional 154 shares during the period. Finally, EPIQ Capital Group LLC grew its stake in Alibaba Group by 0.3% in the 2nd quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock valued at $3,396,000 after buying an additional 157 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

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.