Alibaba Group (NYSE:BABA) Trading Up 4.3% – Should You Buy?

Alibaba Group Holding Limited (NYSE:BABA)’s stock price was up 4.3% during trading on Friday . The company traded as high as $122.81 and last traded at $123.19. Approximately 5,191,838 shares changed hands during trading, a decline of 75% from the average daily volume of 20,945,730 shares. The stock had previously closed at $118.09.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BABA shares. Wall Street Zen lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a report on Wednesday, May 14th. Mizuho cut their price target on shares of Alibaba Group from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Friday, May 16th. Barclays cut their price target on shares of Alibaba Group from $180.00 to $145.00 and set an “overweight” rating on the stock in a report on Tuesday, July 15th. Finally, Arete Research lowered shares of Alibaba Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 24th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $159.67.

Alibaba Group Trading Up 4.0%

The firm has a market cap of $292.98 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 1.81 and a beta of 0.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The firm’s fifty day moving average is $116.41 and its 200-day moving average is $121.16.

Hedge Funds Weigh In On Alibaba Group

Institutional investors have recently made changes to their positions in the stock. 1248 Management LLC acquired a new position in shares of Alibaba Group during the first quarter valued at about $26,000. North Ridge Wealth Advisors Inc. acquired a new position in shares of Alibaba Group during the first quarter valued at about $26,000. Summit Securities Group LLC raised its holdings in shares of Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 59,000 shares during the period. Ransom Advisory Ltd acquired a new position in shares of Alibaba Group during the first quarter valued at about $26,000. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 196 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

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.