Alibaba Group (NYSE:BABA) Stock Price Up 0.3% After Analyst Upgrade

Alibaba Group Holding Limited (NYSE:BABA) was up 0.3% on Monday after Citigroup raised their price target on the stock from $133.00 to $138.00. Citigroup currently has a buy rating on the stock. Alibaba Group traded as high as $81.08 and last traded at $80.80. Approximately 3,626,866 shares traded hands during trading, a decline of 66% from the average daily volume of 10,821,382 shares. The stock had previously closed at $80.53.

Several other equities analysts have also recently issued reports on BABA. Bank of America upped their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com lowered Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Mizuho upped their price target on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Robert W. Baird raised their price objective on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday, November 15th. Two investment 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 presently has an average rating of “Moderate Buy” and an average price target of $115.13.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Concord Wealth Partners increased its holdings in Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 155 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Alibaba Group in the second quarter worth $27,000. Highline Wealth Partners LLC bought a new stake in Alibaba Group during the third quarter valued at $36,000. Assetmark Inc. grew its position in Alibaba Group by 225.4% during the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after buying an additional 275 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Alibaba Group in the 2nd quarter worth about $38,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Trading Up 0.3 %

The stock has a market cap of $192.45 billion, a PE ratio of 16.38, 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 firm has a fifty day simple moving average of $87.59 and a two-hundred day simple moving average of $87.54.

Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The business had revenue of $236.50 billion for 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%. Alibaba Group’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $1.82 earnings per share. As a group, equities analysts expect that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal year.

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.