Alibaba Group (NYSE:BABA) Trading Up 1.6% – Time to Buy?

Alibaba Group Holding Limited (NYSE:BABA)’s share price was up 1.6% during mid-day trading on Friday . The stock traded as high as $151.47 and last traded at $149.70. Approximately 8,769,985 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 19,860,418 shares. The stock had previously closed at $147.32.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BABA. Nomura upped their price target on shares of Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Sanford C. Bernstein lowered their price objective on shares of Alibaba Group from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Wednesday, November 26th. Zacks Research cut Alibaba Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Erste Group Bank upgraded Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Wall Street Zen cut Alibaba Group from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Seventeen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and a consensus price target of $194.00.

Alibaba Group Trading Up 1.6%

The company has a market cap of $357.20 billion, a PE ratio of 20.68, a PEG ratio of 2.26 and a beta of 0.33. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average price of $162.01 and a 200 day moving average price of $142.03.

Institutional Trading of Alibaba Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Temasek Holdings Private Ltd lifted its stake in Alibaba Group by 23.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer’s stock worth $728,633,000 after purchasing an additional 1,045,789 shares in the last quarter. Verde Servicos Internacionais S.A. increased its holdings in shares of Alibaba Group by 6.9% in the second quarter. Verde Servicos Internacionais S.A. now owns 67,773 shares of the specialty retailer’s stock worth $7,686,000 after purchasing an additional 4,373 shares during the last quarter. Causeway Capital Management LLC increased its holdings in shares of Alibaba Group by 42.6% in the first quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer’s stock worth $179,305,000 after purchasing an additional 404,842 shares during the last quarter. Ninety One UK Ltd purchased a new stake in shares of Alibaba Group in the second quarter worth about $15,318,000. Finally, Soros Capital Management LLC bought a new position in Alibaba Group during the first quarter valued at approximately $23,967,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Company Profile

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.