Alibaba Group (NYSE:BABA) Trading 2.1% Higher – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA)’s share price was up 2.1% during trading on Friday . The company traded as high as $111.52 and last traded at $109.03. Approximately 17,805,254 shares traded hands during mid-day trading, a decline of 14% from the average daily volume of 20,607,737 shares. The stock had previously closed at $106.75.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BABA shares. Arete Research upgraded shares of Alibaba Group to a “strong-buy” rating in a research report on Friday, February 28th. Barclays upped their price target on Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Citigroup decreased their price objective on Alibaba Group from $170.00 to $169.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Morgan Stanley raised shares of Alibaba Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $100.00 to $180.00 in a research report on Monday, February 24th. Finally, Sanford C. Bernstein raised shares of Alibaba Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $104.00 to $165.00 in a research report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alibaba Group currently has an average rating of “Buy” and a consensus target price of $150.36.

Alibaba Group Price Performance

The firm has a market capitalization of $260.55 billion, a P/E ratio of 15.76, a P/E/G ratio of 0.61 and a beta of 0.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a 50 day moving average of $127.07 and a two-hundred day moving average of $104.68.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The firm had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. Sell-side analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Institutional Trading of Alibaba Group

Several hedge funds have recently added to or reduced their stakes in the business. Appaloosa LP boosted its position in shares of Alibaba Group by 18.4% in the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock valued at $1,004,181,000 after acquiring an additional 1,843,158 shares during the period. Norges Bank bought a new stake in Alibaba Group in the 4th quarter valued at $585,479,000. Bank of America Corp DE grew its position in Alibaba Group by 7.0% in the 4th quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer’s stock worth $566,124,000 after purchasing an additional 438,537 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Alibaba Group by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 5,093,828 shares of the specialty retailer’s stock worth $431,906,000 after purchasing an additional 78,757 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Alibaba Group by 19.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer’s stock valued at $390,885,000 after buying an additional 752,275 shares during the last quarter. 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.