Alibaba Group (NYSE:BABA) Trading 5.4% Higher – What’s Next?

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded up 5.4% during trading on Monday . The company traded as high as $161.50 and last traded at $161.13. 21,328,807 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 20,627,568 shares. The stock had previously closed at $152.93.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Arete upgraded shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price target on the stock in a research report on Wednesday, September 3rd. Nomura upped their target price on shares of Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Arete Research upgraded shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. CLSA boosted their price target on shares of Alibaba Group from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 2nd. Finally, UBS Group restated a “buy” rating and issued a $162.00 price objective on shares of Alibaba Group in a research report on Sunday, August 31st. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $190.18.

Alibaba Group Price Performance

The company’s fifty day moving average price is $168.78 and its two-hundred day moving average price is $138.14. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The company has a market cap of $384.47 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 2.40 and a beta of 0.19.

Institutional Trading of Alibaba Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Traphagen Investment Advisors LLC grew its holdings in shares of Alibaba Group by 2.0% during the third quarter. Traphagen Investment Advisors LLC now owns 3,018 shares of the specialty retailer’s stock worth $539,000 after buying an additional 59 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in Alibaba Group by 26.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 302 shares of the specialty retailer’s stock worth $54,000 after acquiring an additional 63 shares during the last quarter. Bluesphere Advisors LLC grew its stake in shares of Alibaba Group by 2.2% during the 3rd quarter. Bluesphere Advisors LLC now owns 3,023 shares of the specialty retailer’s stock worth $540,000 after acquiring an additional 64 shares in the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Alibaba Group by 34.4% in the third quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 65 shares during the last quarter. Finally, Transcend Capital Advisors LLC lifted its position in shares of Alibaba Group by 1.0% in the third quarter. Transcend Capital Advisors LLC now owns 6,661 shares of the specialty retailer’s stock worth $1,191,000 after purchasing an additional 66 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

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.