Alibaba Group (NYSE:BABA) Hits New 52-Week High at $113.11

Alibaba Group Holding Limited (NYSE:BABA) hit a new 52-week high on Monday . The company traded as high as $113.11 and last traded at $113.11, with a volume of 2750650 shares traded. The stock had previously closed at $107.33.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Benchmark reiterated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research note on Friday, August 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a report on Friday, August 23rd. Jefferies Financial Group restated a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a research note on Friday, July 26th. Loop Capital reiterated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a research note on Thursday, August 29th. Finally, Sanford C. Bernstein increased their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Stock Up 5.1 %

The company has a market capitalization of $286.20 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 0.46 and a beta of 0.33. The company’s fifty day moving average is $82.98 and its 200-day moving average is $78.51. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. Alibaba Group’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.47 EPS. As a group, analysts predict that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

Several hedge funds have recently modified their holdings of BABA. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Alibaba Group in the second quarter worth about $38,000. Sanctuary Advisors LLC purchased a new stake in shares of Alibaba Group during the 2nd quarter worth approximately $3,451,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Alibaba Group during the 2nd quarter valued at approximately $27,000. SRN Advisors LLC grew its holdings 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 in the last quarter. Finally, Granite Bay Wealth Management LLC bought a new stake in Alibaba Group in the second quarter worth $6,185,000. 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.