Alibaba Group (NYSE:BABA) Stock Price Up 6.7% - What's Next?

Shares of Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shot up 6.7% during trading on Wednesday . The company traded as high as $138.67 and last traded at $138.52. 14,498,688 shares were traded during trading, a decline of 21% from the average session volume of 18,393,104 shares. The stock had previously closed at $129.85.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BABA. Citigroup boosted their target price 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. Arete Research raised shares of Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $104.00 to $165.00 in a research note on Tuesday, February 25th. Bank of America boosted their target price on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, Barclays boosted their target price on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Fifteen investment 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, the stock presently has an average rating of "Buy" and a consensus target price of $144.07.

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Alibaba Group Stock Up 0.5 %

The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $334.04 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 0.61 and a beta of 0.31. The firm's fifty day simple moving average is $105.46 and its two-hundred day simple moving average is $96.81.

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

Hedge Funds Weigh In On Alibaba Group

Several large investors have recently made changes to their positions in BABA. Decker Retirement Planning Inc. acquired a new position in shares of Alibaba Group in the 4th quarter worth approximately $31,000. Sierra Ocean LLC acquired a new position in shares of Alibaba Group in the 4th quarter worth approximately $32,000. Assetmark Inc. lifted its holdings in shares of Alibaba Group by 225.4% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer's stock worth $42,000 after acquiring an additional 275 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Alibaba Group by 59.0% in 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 last quarter. Finally, Redwood Park Advisors LLC acquired a new position in shares of Alibaba Group in the 4th quarter worth approximately $52,000. 13.47% of the stock is currently 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.