Alibaba Group (NYSE:BABA) Sees Unusually-High Trading Volume – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA) saw unusually-high trading volume on Friday . Approximately 10,394,267 shares were traded during trading, a decline of 41% from the previous session’s volume of 17,602,400 shares.The stock last traded at $87.77 and had previously closed at $90.58.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BABA shares. Loop Capital reissued a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Robert W. Baird boosted their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Friday. Mizuho boosted their target price on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, Susquehanna lowered their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.53.

Alibaba Group Price Performance

The stock has a market capitalization of $212.12 billion, a price-to-earnings ratio of 23.19, 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. The company’s 50 day moving average is $98.18 and its 200 day moving average is $85.56.

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 analysts’ consensus estimates of $1.87 by $14.57. The company had revenue of $243.24 billion during 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 firm’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 earned $2.47 earnings per share. Research analysts anticipate that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

Several institutional investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co grew its holdings in Alibaba Group by 462.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock valued at $12,275,000 after buying an additional 139,134 shares during the last quarter. Generate Investment Management Ltd acquired a new stake in shares of Alibaba Group during the third quarter valued at $12,656,000. SRN Advisors LLC increased its position in Alibaba Group by 76.7% during the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock worth $1,611,000 after purchasing an additional 9,663 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its stake in Alibaba Group by 63.9% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock valued at $3,047,000 after purchasing an additional 11,192 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in Alibaba Group by 6.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock valued at $87,327,000 after purchasing an additional 50,000 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.