Alibaba Group (NYSE:BABA) Reaches New 12-Month High - Here's What Happened

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $119.81 and last traded at $118.35, with a volume of 43876099 shares changing hands. The stock had previously closed at $112.78.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Robert W. Baird increased their price objective on Alibaba Group from $88.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. StockNews.com downgraded Alibaba Group from a "buy" rating to a "hold" rating in a report on Thursday. Benchmark reissued a "buy" rating and issued a $118.00 price target on shares of Alibaba Group in a research note on Friday, November 15th. Barclays reduced their price objective 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. Finally, Citigroup lifted their target price on shares of Alibaba Group from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Alibaba Group has a consensus rating of "Moderate Buy" and a consensus price target of $115.86.

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Alibaba Group Trading Up 4.3 %

The business has a 50-day moving average of $91.25 and a 200-day moving average of $91.11. 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 stock has a market cap of $296.71 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 0.42 and a beta of 0.31.

Alibaba Group (NYSE:BABA - Get Free Report) last announced its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating the consensus estimate of $1.87 by $13.19. The business had revenue of $236.50 billion during the quarter, compared to analysts' expectations of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.82 EPS. As a group, research analysts forecast that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Foundations Investment Advisors LLC increased its position in Alibaba Group by 21.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 155,440 shares of the specialty retailer's stock worth $13,180,000 after buying an additional 27,088 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Alibaba Group by 131.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 74,807 shares of the specialty retailer's stock valued at $6,343,000 after acquiring an additional 42,446 shares during the last quarter. Generate Investment Management Ltd bought a new position in shares of Alibaba Group in the 3rd quarter valued at approximately $12,656,000. Nations Financial Group Inc. IA ADV raised its stake in shares of Alibaba Group by 63.9% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer's stock valued at $3,047,000 after acquiring an additional 11,192 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Alibaba Group by 7,734.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer's stock worth $28,632,000 after purchasing an additional 266,361 shares during the period. 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.