Alibaba Group (NYSE:BABA) Stock Price Up 2.1%

Alibaba Group Holding Limited (NYSE:BABA)’s stock price shot up 2.1% during mid-day trading on Tuesday . The company traded as high as $84.30 and last traded at $83.15. 5,930,357 shares were traded during mid-day trading, a decline of 64% from the average session volume of 16,440,400 shares. The stock had previously closed at $81.44.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a report on Friday, August 16th. Citigroup decreased their price objective on shares of Alibaba Group from $124.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Susquehanna cut their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Truist Financial lowered their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Mizuho cut their price objective on Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Stock Up 1.2 %

The stock has a market capitalization of $215.21 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 0.41 and a beta of 0.33. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The business’s 50-day moving average is $79.46 and its two-hundred day moving average is $77.08.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same period in the previous year, the firm posted $2.47 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Institutional Trading of Alibaba Group

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

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.