Alibaba Group (NYSE:BABA) Stock Price Up 3.3% - Time to Buy?

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) was up 3.3% on Monday . The stock traded as high as $85.59 and last traded at $85.16. Approximately 21,072,995 shares traded hands during mid-day trading, an increase of 105% from the average daily volume of 10,289,486 shares. The stock had previously closed at $82.43.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BABA. Robert W. Baird upped their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. StockNews.com cut Alibaba Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, December 14th. Mizuho boosted their price objective on Alibaba Group from $92.00 to $113.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Bank of America raised their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, Citigroup boosted their price target on shares of Alibaba Group from $133.00 to $138.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $115.13.

Alibaba Group Price Performance

The firm's fifty day simple moving average is $86.06 and its 200-day simple moving average is $87.86. The firm has a market capitalization of $202.93 billion, a PE ratio of 17.27, a PEG ratio of 0.40 and a beta of 0.30. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

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

Institutional Trading of Alibaba Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its stake in shares of Alibaba Group by 1,392.6% in the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer's stock worth $650,043,000 after purchasing an additional 5,715,155 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Alibaba Group by 3,180.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer's stock valued at $409,385,000 after purchasing an additional 3,740,150 shares during the period. Hhlr Advisors LTD. lifted its holdings in Alibaba Group by 64.1% in the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer's stock worth $936,785,000 after purchasing an additional 3,448,152 shares in the last quarter. FMR LLC boosted its stake in Alibaba Group by 454.2% in the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer's stock worth $383,260,000 after purchasing an additional 2,959,954 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in Alibaba Group by 9,205.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer's stock valued at $1,801,240,000 after buying an additional 1,679,117 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

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.