Alibaba Group (NYSE:BABA) Reaches New 12-Month High at $90.54

Alibaba Group Holding Limited (NYSE:BABA)’s share price reached a new 52-week high on Monday . The company traded as high as $90.54 and last traded at $89.97, with a volume of 5999103 shares traded. The stock had previously closed at $88.29.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Morgan Stanley reissued an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a report on Friday, August 23rd. Truist Financial reduced their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a research note on Friday, July 26th. Sanford C. Bernstein lifted their target price on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Finally, Robert W. Baird upped their price target on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Stock Performance

The company has a market cap of $228.12 billion, a PE ratio of 21.12, a P/E/G 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 business’s fifty day moving average is $80.79 and its 200-day moving average is $77.66.

Alibaba Group (NYSE:BABA) last issued 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 analysts’ expectations of $248.32 billion. During the same quarter in the prior year, the business posted $2.47 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts predict that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Alibaba Group in the second quarter valued at approximately $27,000. First Command Advisory Services Inc. acquired a new position in Alibaba Group in the 2nd quarter valued at $25,000. GPS Wealth Strategies Group LLC increased its stake in Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 209 shares during the last quarter. Register Financial Advisors LLC purchased a new position in shares of Alibaba Group during the 1st quarter worth about $31,000. Finally, Asset Dedication LLC lifted its position in Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

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.