Alibaba Group (NYSE:BABA) Trading 1.8% Higher - Here's What Happened

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shot up 1.8% during mid-day trading on Tuesday . The company traded as high as $82.65 and last traded at $81.97. 3,508,382 shares traded hands during trading, a decline of 67% from the average session volume of 10,781,601 shares. The stock had previously closed at $80.54.

Analyst Upgrades and Downgrades

BABA has been the subject of a number of analyst reports. Barclays cut their target price on Alibaba Group from $137.00 to $130.00 and set an "overweight" rating for the company in a research note on Tuesday, November 19th. StockNews.com lowered shares of Alibaba Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, December 14th. Bank of America boosted their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Citigroup raised 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. Finally, Benchmark reissued a "buy" rating and set a $118.00 price target on shares of Alibaba Group in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.13.

Alibaba Group Price Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The company has a fifty day moving average price of $86.88 and a 200 day moving average price of $87.66. The company has a market capitalization of $194.62 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 0.44 and a beta of 0.30.

Alibaba Group (NYSE:BABA - Get Free Report) last posted its earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping the consensus estimate of $1.87 by $13.19. The firm had revenue of $236.50 billion during the quarter, compared to analysts' expectations of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. Alibaba Group's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 EPS. On average, sell-side analysts forecast that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

Several large investors have recently made changes to their positions in BABA. Acadian Asset Management LLC lifted its stake in Alibaba Group by 382.4% during the second quarter. Acadian Asset Management LLC now owns 20,865 shares of the specialty retailer's stock valued at $1,502,000 after buying an additional 16,540 shares in the last quarter. Choreo LLC boosted its position in Alibaba Group by 48.1% during the second quarter. Choreo LLC now owns 5,789 shares of the specialty retailer's stock valued at $418,000 after purchasing an additional 1,880 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in Alibaba Group by 3.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 65,439 shares of the specialty retailer's stock valued at $4,712,000 after purchasing an additional 2,309 shares in the last quarter. Thoroughbred Financial Services LLC increased its position in Alibaba Group by 25.2% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,696 shares of the specialty retailer's stock worth $266,000 after purchasing an additional 744 shares during the last quarter. Finally, Wealthspire Advisors LLC raised its stake in shares of Alibaba Group by 6.1% during the 2nd quarter. Wealthspire Advisors LLC now owns 2,971 shares of the specialty retailer's stock worth $214,000 after purchasing an additional 171 shares in the last quarter. Institutional investors 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.