Alibaba Group (NYSE:BABA) Stock Price Up 1.2%

Alibaba Group Holding Limited (NYSE:BABA)’s share price traded up 1.2% on Thursday . The stock traded as high as $79.92 and last traded at $79.40. 3,870,072 shares were traded during mid-day trading, a decline of 78% from the average session volume of 17,675,211 shares. The stock had previously closed at $78.46.

Wall Street Analysts Forecast Growth

Several research firms have commented on BABA. Benchmark reissued a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Wednesday, April 10th. Mizuho reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Alibaba Group in a research report on Wednesday, March 27th. Citigroup lowered their price target on Alibaba Group from $126.00 to $124.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Finally, The Goldman Sachs Group reduced their price target on shares of Alibaba Group from $121.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and an average target price of $112.49.

Alibaba Group Trading Up 0.7 %

The stock has a market cap of $203.10 billion, a P/E ratio of 14.77 and a beta of 0.44. The stock’s 50-day moving average is $73.90 and its two-hundred day moving average is $75.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.80 and a quick ratio of 1.80.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). The firm had revenue of $260.35 billion for the quarter, compared to analysts’ expectations of $260.26 billion. Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 EPS. Equities research analysts anticipate that Alibaba Group Holding Limited will post 7.42 EPS for the current year.

Institutional Investors Weigh In On Alibaba Group

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its holdings in Alibaba Group by 3.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 564,181 shares of the specialty retailer’s stock valued at $48,937,000 after buying an additional 16,625 shares during the period. Park Avenue Securities LLC purchased a new stake in shares of Alibaba Group during the third quarter valued at $1,045,000. Whittier Trust Co. grew its holdings in shares of Alibaba Group by 8.6% in the third quarter. Whittier Trust Co. now owns 3,306 shares of the specialty retailer’s stock worth $287,000 after purchasing an additional 263 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Alibaba Group by 21.3% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 11,428 shares of the specialty retailer’s stock valued at $991,000 after buying an additional 2,006 shares in the last quarter. Finally, Arete Wealth Advisors LLC boosted its position in Alibaba Group by 5.3% in the 3rd quarter. Arete Wealth Advisors LLC now owns 6,366 shares of the specialty retailer’s stock valued at $552,000 after buying an additional 318 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

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.