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

Alibaba Group Holding Limited (NYSE:BABA) traded up 2.9% on Tuesday . The company traded as high as $125.78 and last traded at $125.51. 9,402,147 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 12,372,646 shares. The stock had previously closed at $121.98.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BABA. Nomura boosted their price objective on Alibaba Group from $193.00 to $237.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Erste Group Bank downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. DZ Bank lowered shares of Alibaba Group from a “buy” rating to a “hold” rating and set a $135.00 price target for the company. in a report on Friday, March 20th. Robert W. Baird dropped their price target on shares of Alibaba Group from $174.00 to $164.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Finally, Weiss Ratings cut shares of Alibaba Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 27th. Sixteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $187.89.

Alibaba Group Price Performance

The company has a market cap of $299.64 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 3.11 and a beta of 0.43. The business has a 50 day moving average of $148.92 and a 200 day moving average of $157.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.33 and a quick ratio of 1.33.

Hedge Funds Weigh In On Alibaba Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ameriflex Group Inc. boosted its position in Alibaba Group by 101.4% during the 3rd quarter. Ameriflex Group Inc. now owns 143 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 72 shares in the last quarter. Mather Group LLC. purchased a new stake in Alibaba Group in the third quarter worth $30,000. Foster Dykema Cabot & Partners LLC bought a new position in Alibaba Group in the third quarter worth $30,000. NBT Bank N A NY lifted its position in Alibaba Group by 231.5% during the third quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 125 shares during the period. Finally, Palisade Asset Management LLC bought a new stake in shares of Alibaba Group during the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Company Profile

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.