Alibaba Group (NYSE:BABA) Trading 2% Higher – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA) traded up 2% during trading on Thursday . The stock traded as high as $111.52 and last traded at $108.89. 7,184,738 shares were traded during trading, a decline of 65% from the average session volume of 20,538,522 shares. The stock had previously closed at $106.75.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BABA shares. Robert W. Baird boosted their price objective on Alibaba Group from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Sanford C. Bernstein raised shares of Alibaba Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $104.00 to $165.00 in a research note on Tuesday, February 25th. Morgan Stanley raised shares of Alibaba Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $100.00 to $180.00 in a research note on Monday, February 24th. Benchmark lifted their price target on Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. increased their price objective on Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $150.36.

Alibaba Group Stock Performance

The firm has a market cap of $260.55 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. The firm’s 50 day moving average is $127.07 and its 200-day moving average is $104.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results 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 company had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. Sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Institutional Trading of Alibaba Group

Institutional investors and hedge funds have recently modified their holdings of the company. Decker Retirement Planning Inc. acquired a new position in Alibaba Group during the 4th quarter worth $31,000. Bruce G. Allen Investments LLC acquired a new stake in Alibaba Group in the 1st quarter valued at approximately $31,000. Sierra Ocean LLC bought a new position in Alibaba Group in the 4th quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL boosted its position in shares of Alibaba Group by 59.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer’s stock valued at $46,000 after acquiring an additional 200 shares during the period. Finally, Redwood Park Advisors LLC bought a new position in Alibaba Group during the fourth quarter worth $52,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

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.