Alibaba Group (NYSE:BABA) Stock Price Up 3.1% - Here's Why

Shares of Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) were up 3.1% on Thursday . The stock traded as high as $137.66 and last traded at $136.34. Approximately 7,997,031 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 19,036,275 shares. The stock had previously closed at $132.24.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Barclays raised their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Mizuho upped their target price on shares of Alibaba Group from $140.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday. Robert W. Baird boosted their price objective on Alibaba Group from $110.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, Citigroup lifted their price target on Alibaba Group from $133.00 to $138.00 and gave the company a "buy" rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $148.14.

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Alibaba Group Stock Performance

The stock has a market cap of $314.39 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28. The stock's 50-day simple moving average is $121.60 and its two-hundred day simple moving average is $102.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48.

Alibaba Group (NYSE:BABA - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.07). The business had revenue of $38.38 billion during the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. Analysts forecast that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors have recently added to or reduced their stakes in BABA. Decker Retirement Planning Inc. bought a new stake in shares of Alibaba Group during the fourth quarter valued at approximately $31,000. Sierra Ocean LLC acquired a new position in shares of Alibaba Group in the 4th quarter valued at $32,000. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Alibaba Group by 59.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer's stock worth $46,000 after acquiring an additional 200 shares during the period. Redwood Park Advisors LLC acquired a new stake in shares of Alibaba Group during the 4th quarter valued at about $52,000. Finally, Kieckhefer Group LLC bought a new stake in Alibaba Group in the fourth quarter valued at about $55,000. 13.47% of the stock is 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.