Alibaba Group (NYSE:BABA) Stock Price Up 3.5% – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA)’s share price rose 3.5% during trading on Thursday . The stock traded as high as $100.46 and last traded at $100.14. Approximately 5,760,467 shares changed hands during trading, a decline of 67% from the average daily volume of 17,582,684 shares. The stock had previously closed at $96.73.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a research note on Monday, October 7th. Truist Financial dropped their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research report on Friday, August 23rd. Barclays boosted their price objective on Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, Sanford C. Bernstein increased their target price on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $113.13.

Alibaba Group Price Performance

The business has a 50 day simple moving average of $97.25 and a 200-day simple moving average of $84.97. The company has a market capitalization of $225.58 billion, a P/E ratio of 24.65, a PEG ratio of 0.46 and a beta of 0.35. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. During the same period last year, the firm posted $2.47 EPS. Alibaba Group’s quarterly revenue was up 3.9% compared to the same quarter last year. Analysts predict that Alibaba Group Holding Limited will post 8.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. raised its holdings in 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 worth $650,043,000 after purchasing an additional 5,715,155 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Alibaba Group by 9,205.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after buying an additional 1,679,117 shares in the last quarter. AMF Tjanstepension AB lifted its holdings in shares of Alibaba Group by 79.5% in the second quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after buying an additional 1,156,479 shares during the period. Marshall Wace LLP boosted its stake in Alibaba Group by 384.2% during the second quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock valued at $102,596,000 after buying an additional 1,130,643 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Alibaba Group by 523.8% during the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock worth $96,163,000 after acquiring an additional 1,121,500 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.