Alibaba Group (NYSE:BABA) Shares Up 0.4% - Here's What Happened

Shares of Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shot up 0.4% during mid-day trading on Friday . The company traded as high as $87.01 and last traded at $86.90. 3,334,916 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 17,571,701 shares. The stock had previously closed at $86.59.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BABA. JPMorgan Chase & Co. lifted their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an "overweight" rating in a research note on Friday, August 16th. Bank of America increased their target price on Alibaba Group from $106.00 to $124.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Robert W. Baird lifted their price target on Alibaba Group from $88.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Macquarie raised Alibaba Group from a "neutral" rating to an "outperform" rating and set a $145.00 target price on the stock in a research report on Monday, October 7th. Finally, Barclays lowered their price target on Alibaba Group from $137.00 to $130.00 and set an "overweight" rating for the company in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $114.07.

Alibaba Group Stock Up 0.9 %

The firm has a market cap of $209.05 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 0.43 and a beta of 0.35. The firm's 50 day moving average price is $98.45 and its two-hundred day moving average price is $86.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37.

Alibaba Group (NYSE:BABA - Get Free Report) last released its quarterly 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. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business had revenue of $236.50 billion during the quarter, compared to analysts' expectations of $239.45 billion. During the same quarter in the prior year, the business earned $1.82 earnings per share. The company's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors have recently added to or reduced their stakes in the business. TRUE Private Wealth Advisors increased its holdings in shares of Alibaba Group by 3.7% in the 3rd quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer's stock valued at $331,000 after purchasing an additional 112 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Alibaba Group by 6.0% in the third quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer's stock valued at $228,000 after buying an additional 121 shares in the last quarter. ICA Group Wealth Management LLC lifted its position in shares of Alibaba Group by 14.6% during the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer's stock valued at $72,000 after acquiring an additional 128 shares during the period. Cornerstone Wealth Management LLC boosted its stake in shares of Alibaba Group by 4.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer's stock worth $361,000 after acquiring an additional 139 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its holdings in shares of Alibaba Group by 3.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer's stock worth $515,000 after acquiring an additional 143 shares during the period. Hedge funds and other 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.