Alibaba Group (NYSE:BABA) Trading Up 1.7% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s share price traded up 1.7% on Tuesday . The company traded as high as $101.09 and last traded at $100.03. 4,942,102 shares changed hands during trading, a decline of 72% from the average session volume of 17,607,824 shares. The stock had previously closed at $98.40.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Friday, August 16th. Morgan Stanley restated an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. Truist Financial lowered their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. increased their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, Robert W. Baird lifted their price objective on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.13.

Alibaba Group Price Performance

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The company has a 50 day simple moving average of $95.95 and a 200-day simple moving average of $84.41. The stock has a market cap of $237.17 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 0.46 and a beta of 0.35.

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

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC increased its holdings in shares of Alibaba Group by 6.0% during the third 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 period. ICA Group Wealth Management LLC raised its position 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 buying an additional 128 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in shares of Alibaba Group by 4.3% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock worth $361,000 after acquiring an additional 139 shares during the period. First Trust Direct Indexing L.P. boosted its stake in shares of 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 acquiring an additional 143 shares in the last quarter. Finally, Concord Wealth Partners grew its holdings in shares of Alibaba Group by 155.0% in 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 last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

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.