Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price rose 1.7% during trading on Tuesday . The company traded as high as $101.09 and last traded at $100.03. Approximately 4,942,102 shares were traded during trading, a decline of 72% from the average daily volume of 17,607,824 shares. The stock had previously closed at $98.40.
Analysts Set New Price Targets
BABA has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the company an "overweight" rating in a research note on Friday, August 16th. Macquarie upgraded shares of Alibaba Group from a "neutral" rating to an "outperform" rating and set a $145.00 price objective for the company in a research report on Monday, October 7th. Susquehanna cut their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a "positive" rating for the company in a research report on Monday, August 19th. Jefferies Financial Group reaffirmed a "buy" rating and set a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. Finally, Sanford C. Bernstein raised their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a "market perform" rating in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $113.13.
Read Our Latest Stock Analysis on Alibaba Group
Alibaba Group Price Performance
The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market cap of $237.68 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 0.46 and a beta of 0.35. The business's 50-day simple moving average is $96.31 and its two-hundred day simple moving average is $84.62.
Alibaba Group (NYSE:BABA - Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping analysts' consensus estimates of $1.87 by $14.57. The company had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. Alibaba Group's revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.47 earnings per share. Research analysts expect that Alibaba Group Holding Limited will post 8.08 earnings per share for the current year.
Hedge Funds Weigh In On Alibaba Group
Several hedge funds have recently made changes to their positions in BABA. Diversify Advisory Services LLC bought a new position in shares of Alibaba Group during the first quarter valued at approximately $262,000. Choreo LLC grew its stake in shares of Alibaba Group by 21.8% in the first quarter. Choreo LLC now owns 3,909 shares of the specialty retailer's stock worth $283,000 after acquiring an additional 700 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Alibaba Group by 25.0% in the first quarter. Whittier Trust Co. now owns 2,575 shares of the specialty retailer's stock worth $186,000 after acquiring an additional 515 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Alibaba Group during the first quarter valued at $529,000. Finally, Pzena Investment Management LLC increased its holdings in Alibaba Group by 3.9% in the 1st quarter. Pzena Investment Management LLC now owns 65,393 shares of the specialty retailer's stock worth $4,732,000 after buying an additional 2,467 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.
About Alibaba Group
(
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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.
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