Alibaba Group (NYSE:BABA) Trading 2.1% Higher

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

Wall Street Analysts Forecast Growth

BABA has been the topic of a number of research reports. Susquehanna decreased their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Jefferies Financial Group restated a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. Barclays cut their price target on shares of Alibaba Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Benchmark reissued a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Friday, August 16th. Finally, Truist Financial reduced their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $107.61.

Alibaba Group Price Performance

The company has a market capitalization of $215.21 billion, a PE ratio of 19.77, a P/E/G ratio of 0.41 and a beta of 0.33. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $79.46 and a 200-day simple moving average of $77.08.

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

Institutional Investors Weigh In On Alibaba Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ICA Group Wealth Management LLC grew its holdings in Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 128 shares during the period. Bogart Wealth LLC increased its stake in Alibaba Group by 16.7% during the first quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer’s stock worth $72,000 after acquiring an additional 142 shares during the last quarter. Legacy Advisors LLC increased its position in Alibaba Group by 1.4% during the 4th quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer’s stock worth $826,000 after purchasing an additional 145 shares in the last quarter. North Star Investment Management Corp. raised its stake in shares of Alibaba Group by 11.2% in the 1st quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock valued at $111,000 after acquiring an additional 154 shares during the period. Finally, EPIQ Capital Group LLC lifted its stake in shares of Alibaba Group by 0.3% during the second quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock worth $3,396,000 after purchasing an additional 157 shares in the last quarter. 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.