Alibaba Group (NYSE:BABA) Shares Gap Up – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA) shares gapped up prior to trading on Thursday . The stock had previously closed at $157.91, but opened at $163.83. Alibaba Group shares last traded at $161.7080, with a volume of 4,168,732 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently commented on BABA. Barclays increased their price objective on Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. Zacks Research lowered shares of Alibaba Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Benchmark lifted their price target on Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Arete upgraded Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price objective for the company in a research report on Wednesday, September 3rd. Finally, Robert W. Baird increased their price objective on Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average price target of $190.18.

Alibaba Group Trading Up 1.9%

The company’s 50 day moving average is $166.95 and its two-hundred day moving average is $136.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market cap of $383.81 billion, a P/E ratio of 18.78, a PEG ratio of 2.40 and a beta of 0.19.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BABA. North Ridge Wealth Advisors Inc. bought a new position in shares of Alibaba Group during the first quarter worth about $26,000. Summit Securities Group LLC increased its position in shares of Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 59,000 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Alibaba Group in the first quarter valued at $26,000. 1248 Management LLC acquired a new stake in Alibaba Group in the first quarter valued at $26,000. Finally, Rosenberg Matthew Hamilton bought a new stake in shares of Alibaba Group in the 2nd quarter valued at about $26,000. 13.47% of the stock is currently owned by institutional investors.

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.