Alibaba Group (NYSE:BABA) Trading Up 0.2%

Alibaba Group Holding Limited (NYSE:BABA)’s share price was up 0.2% on Friday . The stock traded as high as $89.52 and last traded at $88.71. Approximately 4,198,938 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 16,225,760 shares. The stock had previously closed at $88.49.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BABA. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price target on shares of Alibaba Group in a research report on Friday, August 23rd. Loop Capital reaffirmed 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 upped their price target on shares of Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Benchmark restated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research note on Friday, August 16th. Finally, Sanford C. Bernstein upped their price objective 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. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.61.

Alibaba Group Price Performance

The business’s fifty day moving average is $80.61 and its 200-day moving average is $77.48. The firm has a market cap of $224.14 billion, a PE ratio of 20.68, a P/E/G ratio of 0.43 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate 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. Alibaba Group’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, 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

Several institutional investors have recently modified their holdings of the company. ICA Group Wealth Management LLC grew its position in 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 acquiring an additional 128 shares during the last quarter. Bogart Wealth LLC lifted its holdings in shares of Alibaba Group by 16.7% during the first quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 142 shares during the last quarter. Legacy Advisors LLC boosted its position in shares of Alibaba Group by 1.4% in the 4th quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer’s stock worth $826,000 after purchasing an additional 145 shares in the last quarter. North Star Investment Management Corp. grew its stake in shares of Alibaba Group by 11.2% in the 1st quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock worth $111,000 after buying an additional 154 shares during the last quarter. Finally, EPIQ Capital Group LLC raised its stake in Alibaba Group by 0.3% during the second quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock valued at $3,396,000 after buying an additional 157 shares during the last quarter. 13.47% of the stock is currently owned by 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.