Alibaba Group (NYSE:BABA) Shares Up 5.6%

Alibaba Group Holding Limited (NYSE:BABA) shares were up 5.6% on Tuesday . The stock traded as high as $96.58 and last traded at $95.13. Approximately 21,181,346 shares traded hands during mid-day trading, an increase of 30% from the average daily volume of 16,317,592 shares. The stock had previously closed at $90.09.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BABA shares. Sanford C. Bernstein boosted their target price on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Robert W. Baird raised their target price on shares of Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Jefferies Financial Group restated a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a report on Friday, July 26th. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Finally, Benchmark restated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Trading Up 7.4 %

The firm has a market capitalization of $245.43 billion, a P/E ratio of 22.17, a PEG ratio of 0.43 and a beta of 0.33. 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 firm has a 50 day moving average of $81.03 and a 200-day moving average of $77.78.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The firm had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.47 earnings per share. On average, equities research analysts predict that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fiduciary Alliance LLC lifted its stake in shares of Alibaba Group by 154.1% in the first quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock worth $4,052,000 after acquiring an additional 33,490 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Alibaba Group by 462.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after buying an additional 139,134 shares during the last quarter. SRN Advisors LLC lifted its holdings in Alibaba Group by 76.7% in the first quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after buying an additional 9,663 shares during the period. ORG Partners LLC raised its position in shares of Alibaba Group by 52,685.7% in the 1st quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock worth $813,000 after acquiring an additional 11,064 shares in the last quarter. Finally, Leo Wealth LLC acquired a new position in shares of Alibaba Group in the 4th quarter valued at about $1,734,000. 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.