Alibaba Group (NYSE:BABA) Stock Price Up 9.3% After Analyst Upgrade

Shares of Alibaba Group Holding Limited (NYSE:BABA) rose 9.3% during mid-day trading on Thursday after Robert W. Baird raised their price target on the stock from $110.00 to $125.00. Robert W. Baird currently has an outperform rating on the stock. Alibaba Group traded as high as $144.51 and last traded at $137.53. Approximately 68,377,350 shares were traded during mid-day trading, an increase of 151% from the average daily volume of 27,286,682 shares. The stock had previously closed at $125.79.

A number of other equities research analysts have also recently commented on BABA. StockNews.com cut shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Mizuho upped their price target on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Benchmark reiterated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research note on Friday, November 15th. Citigroup upped their price objective on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, Barclays reduced their target price on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus price target of $116.93.

Hedge Funds Weigh In On Alibaba Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Concord Wealth Partners grew its holdings in shares of Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares in the last quarter. Decker Retirement Planning Inc. purchased a new position in Alibaba Group in the 4th quarter worth approximately $31,000. Sierra Ocean LLC purchased a new stake in shares of Alibaba Group during the 4th quarter valued at $32,000. Highline Wealth Partners LLC bought a new stake in shares of Alibaba Group during the 3rd quarter worth $36,000. Finally, Assetmark Inc. increased its stake in Alibaba Group by 225.4% in the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after acquiring an additional 275 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Stock Up 8.8 %

The stock has a 50-day simple moving average of $93.37 and a two-hundred day simple moving average of $92.11. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The firm has a market cap of $325.20 billion, a PE ratio of 27.82, a P/E/G ratio of 0.54 and a beta of 0.31.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. Analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

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.