Alibaba Group (NYSE:BABA) Trading 1.6% Higher – Time to Buy?

Alibaba Group Holding Limited (NYSE:BABA)’s share price traded up 1.6% during trading on Monday . The company traded as high as $96.80 and last traded at $95.69. 5,702,382 shares were traded during mid-day trading, a decline of 68% from the average session volume of 17,610,189 shares. The stock had previously closed at $94.19.

Analysts Set New Price Targets

Several equities analysts have 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 objective on the stock in a report on Monday, October 7th. Barclays raised their price target on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Morgan Stanley reissued an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Benchmark reaffirmed a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research report on Friday, August 16th. Finally, Bank of America increased their price objective on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $114.53.

Alibaba Group Stock Performance

The firm’s fifty day moving average price is $97.68 and its two-hundred day moving average price is $85.39. The stock has a market capitalization of $220.31 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 0.41 and a beta of 0.35. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter in the previous year, the company earned $2.47 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts forecast that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

Institutional Investors Weigh In On Alibaba Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in BABA. Venturi Wealth Management LLC raised its stake in Alibaba Group by 6.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock valued at $228,000 after purchasing an additional 121 shares during the last quarter. ICA Group Wealth Management LLC raised its holdings 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 valued at $72,000 after buying an additional 128 shares during the period. Cornerstone Wealth Management LLC lifted its position in shares of Alibaba Group by 4.3% during the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock worth $361,000 after purchasing an additional 139 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Alibaba Group by 3.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock worth $515,000 after buying an additional 143 shares in the last quarter. Finally, Concord Wealth Partners boosted its holdings in Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

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.