Alibaba Group (NYSE:BABA) Stock Price Up 2.9% – Should You Buy?

Shares of Alibaba Group Holding Limited (NYSE:BABA) were up 2.9% during mid-day trading on Friday . The company traded as high as $85.59 and last traded at $84.85. Approximately 9,236,075 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 10,840,915 shares. The stock had previously closed at $82.43.

Wall Street Analyst Weigh In

Several research firms have recently commented on BABA. Mizuho boosted their price target on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Citigroup boosted their target price on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Barclays reduced their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a report on Monday, October 7th. Finally, Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.13.

Alibaba Group Trading Up 3.4 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market capitalization of $203.13 billion, a P/E ratio of 17.28, a P/E/G ratio of 0.40 and a beta of 0.30. The company has a 50-day simple moving average of $86.59 and a 200 day simple moving average of $87.63.

Alibaba Group (NYSE:BABA) last released its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. During the same period last year, the business earned $1.82 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts expect that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL acquired a new position in Alibaba Group in the second quarter worth about $27,000. Concord Wealth Partners raised its holdings in shares of 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 buying an additional 155 shares in the last quarter. Decker Retirement Planning Inc. bought a new position in shares of Alibaba Group during the 4th quarter worth approximately $31,000. Highline Wealth Partners LLC acquired a new stake in Alibaba Group in the 3rd quarter valued at $36,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Alibaba Group in the second quarter valued at $38,000. 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.