Alibaba Group (NYSE:BABA) Shares Up 3.5% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s share price shot up 3.5% during mid-day trading on Thursday . The company traded as high as $100.46 and last traded at $100.14. 5,760,467 shares traded hands during trading, a decline of 67% from the average session volume of 17,582,684 shares. The stock had previously closed at $96.73.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BABA shares. 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. Susquehanna decreased their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a report on Monday, August 19th. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a research note on Monday, October 7th. Barclays increased their price target on shares of Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. 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 analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.13.

Alibaba Group Price Performance

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 company’s fifty day moving average is $96.65 and its 200 day moving average is $84.70. The firm has a market cap of $239.86 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 0.46 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company 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 business posted $2.47 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts predict that Alibaba Group Holding Limited will post 8.08 EPS for the current year.

Hedge Funds Weigh In On Alibaba Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. boosted its stake in shares of Alibaba Group by 25.0% in the 1st quarter. Whittier Trust Co. now owns 2,575 shares of the specialty retailer’s stock valued at $186,000 after purchasing an additional 515 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Alibaba Group during the first quarter valued at about $529,000. Geneos Wealth Management Inc. grew its holdings in shares of Alibaba Group by 118.1% during the first quarter. Geneos Wealth Management Inc. now owns 6,430 shares of the specialty retailer’s stock worth $465,000 after purchasing an additional 3,482 shares during the last quarter. ORG Partners LLC increased its stake in shares of Alibaba Group by 52,685.7% in the first quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock valued at $813,000 after buying an additional 11,064 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in Alibaba Group by 8.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,279 shares of the specialty retailer’s stock valued at $599,000 after buying an additional 632 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

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.