Alibaba Group (NYSE:BABA) Shares Up 2.9% - Here's Why

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares were up 2.9% during mid-day trading on Friday . The stock traded as high as $85.59 and last traded at $84.85. Approximately 9,236,075 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 10,840,915 shares. The stock had previously closed at $82.43.

Analyst Upgrades and Downgrades

BABA has been the topic of several recent research reports. Citigroup increased their price objective on Alibaba Group from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Bank of America lifted their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Benchmark restated a "buy" rating and set a $118.00 target price on shares of Alibaba Group in a research report on Friday, November 15th. Barclays dropped their price target on shares of Alibaba Group from $137.00 to $130.00 and set an "overweight" rating for the company in a research report on Tuesday, November 19th. Finally, Robert W. Baird increased their price target on Alibaba Group from $88.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Alibaba Group presently has an average rating of "Moderate Buy" and an average target price of $115.13.

Alibaba Group Stock Performance

The stock has a market cap of $202.93 billion, a P/E ratio of 17.27, a PEG ratio of 0.40 and a beta of 0.30. 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 stock has a 50-day simple moving average of $86.24 and a 200-day simple moving average of $87.59.

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

Institutional Investors Weigh In On Alibaba Group

Several hedge funds have recently modified their holdings of the company. Generate Investment Management Ltd bought a new position in Alibaba Group in the third quarter valued at about $12,656,000. Nations Financial Group Inc. IA ADV raised its holdings in 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 buying an additional 11,192 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Alibaba Group by 6.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer's stock worth $87,327,000 after buying an additional 50,000 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Alibaba Group by 7,734.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer's stock worth $28,632,000 after buying an additional 266,361 shares during the period. Finally, Aspex Management HK Ltd bought a new stake in Alibaba Group during the 3rd quarter worth approximately $115,995,000. 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.