Alibaba Group (NYSE:BABA) Trading 2.9% Higher

Alibaba Group Holding Limited (NYSE:BABA)’s share price traded up 2.9% during trading on Friday . The company traded as high as $85.75 and last traded at $85.37. 7,550,008 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 16,595,203 shares. The stock had previously closed at $82.96.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Sanford C. Bernstein lifted their target price on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Loop Capital raised their price target on Alibaba Group from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Bank of America raised their price target on Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Benchmark restated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research note on Friday, August 16th. Finally, Citigroup dropped their price target on Alibaba Group from $124.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $107.61.

Alibaba Group Trading Up 3.0 %

The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $77.29 and a 200 day simple moving average of $76.30. The firm has a market capitalization of $216.73 billion, a P/E ratio of 19.91, a PEG ratio of 0.48 and a beta of 0.32.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The business had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $2.47 earnings per share. As a group, research analysts forecast that Alibaba Group Holding Limited will post 6.96 EPS for the current year.

Institutional Investors Weigh In On Alibaba Group

Several large investors have recently made changes to their positions in the company. ICA Group Wealth Management LLC increased its holdings in shares of Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 128 shares during the last quarter. Bogart Wealth LLC increased its holdings in shares of Alibaba Group by 16.7% in the first quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 142 shares during the last quarter. Legacy Advisors LLC increased its holdings in shares of Alibaba Group by 1.4% in the fourth quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer’s stock worth $826,000 after purchasing an additional 145 shares during the last quarter. North Star Investment Management Corp. increased its holdings in shares of Alibaba Group by 11.2% in the first quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock worth $111,000 after purchasing an additional 154 shares during the last quarter. Finally, EPIQ Capital Group LLC increased its holdings in shares of Alibaba Group by 0.3% in the second quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock worth $3,396,000 after purchasing an additional 157 shares during the last quarter. 13.47% of the stock is 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.