Alibaba Group (NYSE:BABA) Shares Up 0.4% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA) shot up 0.4% on Tuesday . The company traded as high as $101.45 and last traded at $100.37. 6,266,828 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 17,798,908 shares. The stock had previously closed at $99.93.

Analyst Ratings Changes

Several research analysts have recently commented on BABA shares. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a report on Monday, October 7th. Barclays boosted their price target on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Truist Financial lowered their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Benchmark reissued a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. upped their price objective on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Alibaba Group Trading Down 1.1 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a 50-day moving average of $95.08 and a 200-day moving average of $83.70. The firm has a market capitalization of $250.43 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35.

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

Institutional Trading of Alibaba Group

A number of institutional investors have recently modified their holdings of the company. First Command Advisory Services Inc. purchased a new stake in Alibaba Group in the 2nd quarter worth approximately $25,000. GPS Wealth Strategies Group LLC boosted its holdings in 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 acquiring an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Alibaba Group during the 2nd quarter valued at $27,000. Concord Wealth Partners raised its holdings in Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares in the last quarter. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Alibaba Group in the 3rd quarter worth about $36,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.