Alibaba Group (NYSE:BABA) Trading Up 3.6% on Analyst Upgrade

Alibaba Group Holding Limited (NYSE:BABA)’s stock price rose 3.6% during trading on Thursday after CLSA raised their price target on the stock from $155.00 to $200.00. CLSA currently has an outperform rating on the stock. Alibaba Group traded as high as $192.67 and last traded at $189.38. Approximately 23,397,950 shares changed hands during mid-day trading, an increase of 8% from the average daily volume of 21,602,252 shares. The stock had previously closed at $182.78.

A number of other brokerages also recently issued reports on BABA. JPMorgan Chase & Co. lifted their price objective on shares of Alibaba Group from $170.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday. Arete Research raised shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Wall Street Zen downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Arete raised shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price objective on the stock in a research report on Wednesday, September 3rd. Finally, UBS Group reaffirmed a “buy” rating and issued a $162.00 price objective on shares of Alibaba Group in a research report on Sunday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $181.88.

Institutional Trading of Alibaba Group

Large investors have recently bought and sold shares of the stock. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Alibaba Group in the 1st quarter valued at $26,000. Summit Securities Group LLC boosted its holdings in shares of Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 59,000 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Alibaba Group in the 1st quarter valued at $26,000. 1248 Management LLC purchased a new stake in shares of Alibaba Group in the 1st quarter valued at $26,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in shares of Alibaba Group in the 2nd quarter valued at $26,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

The firm’s fifty day moving average price is $139.30 and its 200 day moving average price is $125.85. The firm has a market capitalization of $451.50 billion, a PE ratio of 22.02, a P/E/G ratio of 2.11 and a beta of 0.18. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19.

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.