Alibaba Group (NYSE:BABA) Trading 0.2% Higher - Should You Buy?

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price traded up 0.2% during trading on Wednesday . The company traded as high as $87.54 and last traded at $87.29. 3,630,402 shares changed hands during trading, a decline of 79% from the average session volume of 17,621,289 shares. The stock had previously closed at $87.11.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BABA shares. Macquarie upgraded shares of Alibaba Group from a "neutral" rating to an "outperform" rating and set a $145.00 price objective for the company in a report on Monday, October 7th. Bank of America increased their price target on Alibaba Group from $106.00 to $124.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Loop Capital reaffirmed a "buy" rating and issued a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. Benchmark reiterated a "buy" rating and set a $118.00 target price on shares of Alibaba Group in a research note on Friday, November 15th. Finally, Barclays dropped their price objective on Alibaba Group from $137.00 to $130.00 and set an "overweight" rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $114.07.

Alibaba Group Trading Down 0.5 %

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm's 50 day simple moving average is $98.41 and its two-hundred day simple moving average is $85.81. The stock has a market cap of $207.62 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 0.39 and a beta of 0.35.

Alibaba Group (NYSE:BABA - Get Free Report) last issued its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a return on equity of 12.23% and a net margin of 8.98%. The firm 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 earned $1.82 earnings per share. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts predict that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

Several hedge funds and other institutional investors have recently made changes to their positions in BABA. Acadian Asset Management LLC acquired a new position in shares of Alibaba Group during the first quarter valued at $312,000. O Shaughnessy Asset Management LLC raised its position in shares of Alibaba Group by 44.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 65,670 shares of the specialty retailer's stock worth $4,752,000 after buying an additional 20,163 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Alibaba Group by 462.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer's stock worth $12,275,000 after acquiring an additional 139,134 shares during the period. Crewe Advisors LLC bought a new position in shares of Alibaba Group in the first quarter valued at approximately $87,000. Finally, CreativeOne Wealth LLC bought a new position in shares of Alibaba Group in the first quarter valued at approximately $853,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.