Alibaba Group (NYSE:BABA) Shares Up 2.3% – Here’s Why

by · The Cerbat Gem

Alibaba Group Holding Limited (NYSE:BABA – Get Free Report) shares shot up 2.3% during mid-day trading on Friday . The company traded as high as $103.36 and last traded at $102.39. 8,654,466 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 17,872,826 shares. The stock had previously closed at $100.07.

Wall Street Analyst Weigh In

BABA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Truist Financial decreased their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a research note on Monday, October 7th. Bank of America lifted their price objective on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Barclays upped their target price on Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $112.63.

View Our Latest Stock Report on BABA

Alibaba Group Stock Up 2.1 %

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market cap of $259.15 billion, a P/E ratio of 23.87, a PEG ratio of 0.55 and a beta of 0.35. The firm’s 50-day moving average price is $91.85 and its 200 day moving average price is $81.97.

Alibaba Group (NYSE:BABA – Get Free Report) last released its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter last year, the company earned $2.47 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities research analysts expect that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

Several large investors have recently modified their holdings of BABA. First Command Advisory Services Inc. bought a new stake in shares of Alibaba Group during the 2nd quarter worth about $25,000. GPS Wealth Strategies Group LLC increased its stake in shares of Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Alibaba Group during the 2nd quarter worth $27,000. Register Financial Advisors LLC acquired a new stake in shares of Alibaba Group during the 1st quarter worth approximately $31,000. Finally, Asset Dedication LLC increased its holdings in Alibaba Group by 315.0% in the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 400 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Company Profile

(Get Free Report)

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.

Read More