Alibaba Group (NYSE:BABA) Hits New 52-Week High – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA) hit a new 52-week high during trading on Monday . The stock traded as high as $147.10 and last traded at $146.01, with a volume of 12773220 shares. The stock had previously closed at $141.10.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BABA. Morgan Stanley upgraded Alibaba Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $100.00 to $180.00 in a research report on Monday, February 24th. Robert W. Baird lifted their price target on Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Citigroup lifted their price target on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, January 10th. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Finally, Bank of America lifted their price target on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $144.07.

Alibaba Group Trading Down 3.3 %

The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average of $113.14 and a two-hundred day moving average of $99.73. The company has a market capitalization of $338.97 billion, a PE ratio of 20.62, a PEG ratio of 0.61 and a beta of 0.27.

Alibaba Group (NYSE:BABA) last announced 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). The company had revenue of $38.38 billion during the quarter, compared to analysts’ expectations of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. As a group, sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

A number of large investors have recently bought and sold shares of BABA. Norges Bank purchased a new position in Alibaba Group in the 4th quarter worth approximately $585,479,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Alibaba Group by 3,180.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock worth $409,385,000 after purchasing an additional 3,740,150 shares during the period. Hhlr Advisors LTD. grew its position in shares of Alibaba Group by 64.1% in the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after buying an additional 3,448,152 shares during the last quarter. FMR LLC grew its position in shares of Alibaba Group by 454.2% in the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after buying an additional 2,959,954 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Alibaba Group by 208.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer’s stock worth $254,000,000 after buying an additional 2,024,640 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

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.