Alibaba Group (NYSE:BABA) Trading Up 2% After Analyst Upgrade

Alibaba Group Holding Limited (NYSE:BABAGet Free Report)’s stock price shot up 2% during trading on Friday after Robert W. Baird raised their price target on the stock from $88.00 to $110.00. Robert W. Baird currently has an outperform rating on the stock. Alibaba Group traded as high as $98.90 and last traded at $98.24. 5,498,656 shares changed hands during trading, a decline of 69% from the average session volume of 17,804,637 shares. The stock had previously closed at $96.36.

A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Barclays boosted their price target on Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. Bank of America boosted their target price on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

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Institutional Investors Weigh In On Alibaba Group

Institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. increased its holdings in Alibaba Group by 1,392.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after acquiring an additional 5,715,155 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Alibaba Group by 9,205.2% in the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock valued at $1,801,240,000 after purchasing an additional 1,679,117 shares during the last quarter. AMF Tjanstepension AB increased its stake in shares of Alibaba Group by 79.5% during the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock worth $188,197,000 after purchasing an additional 1,156,479 shares in the last quarter. Marshall Wace LLP raised its position in shares of Alibaba Group by 384.2% during the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock worth $102,596,000 after purchasing an additional 1,130,643 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Alibaba Group by 523.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after buying an additional 1,121,500 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Trading Up 1.1 %

The stock has a market cap of $247.09 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 0.55 and a beta of 0.35. The business has a fifty day simple moving average of $93.79 and a 200 day simple moving average of $82.91. 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:BABAGet Free Report) last posted its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. The firm had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.47 EPS. As a group, equities analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

About Alibaba Group

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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.

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