Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares rose 0.2% on Thursday . The stock traded as high as $90.00 and last traded at $89.20. Approximately 4,574,613 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 17,471,047 shares. The stock had previously closed at $88.98.
Analysts Set New Price Targets
A number of research firms have recently issued reports on BABA. Truist Financial cut their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, August 16th. Benchmark reissued a "buy" rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Friday, November 15th. Loop Capital reaffirmed a "buy" rating and set a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Sanford C. Bernstein lifted their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the company a "market perform" rating in a research report on Friday, August 16th. Finally, Susquehanna decreased their price target on shares of Alibaba Group from $135.00 to $130.00 and set a "positive" rating for the company in a research note on Monday, August 19th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $114.07.
Check Out Our Latest Stock Analysis on BABA
Alibaba Group Stock Performance
The company's 50-day simple moving average is $95.83 and its 200 day simple moving average is $86.23. The stock has a market cap of $213.29 billion, a P/E ratio of 18.10, a PEG ratio of 0.42 and a beta of 0.30. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16.
Alibaba Group (NYSE:BABA - Get Free Report) last issued its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $239.45 billion. During the same period last year, the company posted $1.82 earnings per share. Alibaba Group's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.
Hedge Funds Weigh In On Alibaba Group
Several institutional investors and hedge funds have recently bought and sold shares of the company. First Command Advisory Services Inc. purchased a new position in shares of Alibaba Group in the second quarter worth about $25,000. GPS Wealth Strategies Group LLC grew its stake in Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer's stock valued at $26,000 after buying an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Alibaba Group in the 2nd quarter valued at approximately $27,000. Concord Wealth Partners raised its holdings in Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 155 shares during the period. Finally, Highline Wealth Partners LLC bought a new position in shares of Alibaba Group in the third quarter worth $36,000. 13.47% of the stock is owned by institutional investors.
About Alibaba Group
(
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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.
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