Alibaba Group (NYSE:BABA) Trading Up 9.3% After Analyst Upgrade

Alibaba Group Holding Limited (NYSE:BABA)’s stock price was up 9.3% during mid-day trading on Thursday after StockNews.com upgraded the stock from a hold rating to a buy rating. The stock traded as high as $144.51 and last traded at $137.53. Approximately 68,377,350 shares were traded during trading, an increase of 151% from the average daily volume of 27,286,682 shares. The stock had previously closed at $125.79.

BABA has been the subject of several other research reports. Mizuho upped their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Barclays dropped their target price on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, November 19th. Robert W. Baird upped their target price on shares of Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday. Benchmark reiterated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Friday, November 15th. Finally, Citigroup upped their target price on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $116.93.

Hedge Funds Weigh In On Alibaba Group

A number of large investors have recently added to or reduced their stakes in BABA. Concord Wealth Partners boosted its stake in shares of Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares during the last quarter. Decker Retirement Planning Inc. acquired a new position in shares of Alibaba Group during the 4th quarter worth about $31,000. Sierra Ocean LLC acquired a new position in shares of Alibaba Group during the 4th quarter worth about $32,000. Highline Wealth Partners LLC acquired a new position in shares of Alibaba Group during the 3rd quarter worth about $36,000. Finally, Assetmark Inc. boosted its stake in shares of Alibaba Group by 225.4% during the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after buying an additional 275 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

The stock’s 50 day moving average price is $94.31 and its 200 day moving average price is $92.42. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $323.74 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 0.54 and a beta of 0.31.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. Analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

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.