Alibaba Group (NYSE:BABA) Shares Up 1.2% - Here's What Happened

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares traded up 1.2% during mid-day trading on Friday . The stock traded as high as $141.82 and last traded at $140.02. 8,459,671 shares were traded during mid-day trading, a decline of 55% from the average session volume of 18,771,530 shares. The stock had previously closed at $138.35.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Arete Research raised shares of Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. Benchmark lifted their target price on shares of Alibaba Group from $118.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Morgan Stanley raised shares of Alibaba Group from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $100.00 to $180.00 in a research report on Monday, February 24th. Finally, Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $104.00 to $165.00 in a research report on Tuesday, February 25th. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $144.07.

Alibaba Group Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The company has a fifty day moving average of $113.14 and a 200-day moving average of $99.73. The firm has a market capitalization of $340.44 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27.

Alibaba Group (NYSE:BABA - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The firm had revenue of $38.38 billion for the quarter, compared to analysts' expectations of $38.19 billion. On average, sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

Several hedge funds have recently bought and sold shares of the business. Rings Capital Management LLC increased its position in Alibaba Group by 1.4% during the fourth quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock worth $602,000 after buying an additional 100 shares during the last quarter. Lindbrook Capital LLC increased its position in Alibaba Group by 3.7% during the fourth quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer's stock worth $240,000 after buying an additional 101 shares during the last quarter. Global Endowment Management LP increased its position in Alibaba Group by 1.4% during the fourth quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer's stock worth $642,000 after buying an additional 106 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in Alibaba Group by 3.6% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer's stock worth $266,000 after buying an additional 108 shares during the last quarter. Finally, TRUE Private Wealth Advisors increased its position in Alibaba Group by 3.7% during the third quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer's stock worth $331,000 after buying an additional 112 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

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.