Alibaba Group (NYSE:BABA) Stock Price Up 3.9%

Shares of Alibaba Group Holding Limited (NYSE:BABA) shot up 3.9% during trading on Thursday . The company traded as high as $87.88 and last traded at $87.68. 7,234,479 shares traded hands during trading, a decline of 55% from the average session volume of 16,225,110 shares. The stock had previously closed at $84.42.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Jefferies Financial Group restated a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a research note on Friday, July 26th. Loop Capital restated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Benchmark reiterated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Friday, August 16th. Truist Financial cut their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, 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 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $107.61.

Alibaba Group Trading Down 0.2 %

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 market cap of $224.09 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. The business’s 50 day moving average is $80.79 and its 200-day moving average is $77.59.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. During the same period last year, the firm earned $2.47 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Alibaba Group in the second quarter worth $38,000. Sanctuary Advisors LLC bought a new stake in Alibaba Group in the 2nd quarter valued at about $3,451,000. Strategic Investment Solutions Inc. IL acquired a new position in Alibaba Group during the 2nd quarter valued at about $27,000. SRN Advisors LLC increased its stake in shares of Alibaba Group by 4.2% in the second quarter. SRN Advisors LLC now owns 23,189 shares of the specialty retailer’s stock valued at $1,670,000 after purchasing an additional 930 shares during the period. Finally, Granite Bay Wealth Management LLC bought a new stake in shares of Alibaba Group during the second quarter valued at approximately $6,185,000. Institutional investors own 13.47% of the company’s stock.

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.