Alibaba Group (NYSE:BABA) Stock Price Up 5.6%

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) was up 5.6% during mid-day trading on Tuesday . The stock traded as high as $96.58 and last traded at $95.13. Approximately 21,181,346 shares were traded during mid-day trading, an increase of 30% from the average daily volume of 16,317,592 shares. The stock had previously closed at $90.09.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BABA shares. Loop Capital reiterated a "buy" rating and issued a $115.00 target price on shares of Alibaba Group in a research note on Thursday, August 29th. Robert W. Baird upped their target price on shares of Alibaba Group from $85.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, August 16th. Morgan Stanley reiterated an "equal weight" rating and issued a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. Truist Financial reduced their target price on shares of Alibaba Group from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, August 16th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $116.00 target price on shares of Alibaba Group in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.61.

Alibaba Group Stock Performance

The firm has a market capitalization of $246.70 billion, a PE ratio of 22.66, a P/E/G ratio of 0.43 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The company's fifty day simple moving average is $81.40 and its 200 day simple moving average is $77.95.

Alibaba Group (NYSE:BABA - Get Free Report) last released its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company's revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.47 earnings per share. As a group, equities research analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors and hedge funds have recently modified their holdings of BABA. ICA Group Wealth Management LLC raised its holdings in shares of Alibaba Group by 14.6% in the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer's stock valued at $72,000 after acquiring an additional 128 shares in the last quarter. Bogart Wealth LLC raised its stake in Alibaba Group by 16.7% in the first quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer's stock valued at $72,000 after purchasing an additional 142 shares in the last quarter. Legacy Advisors LLC lifted its position in Alibaba Group by 1.4% during the fourth quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer's stock valued at $826,000 after purchasing an additional 145 shares during the last quarter. North Star Investment Management Corp. grew its stake in Alibaba Group by 11.2% in the 1st quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer's stock worth $111,000 after buying an additional 154 shares in the last quarter. Finally, EPIQ Capital Group LLC increased its holdings in shares of Alibaba Group by 0.3% in the 2nd quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer's stock worth $3,396,000 after buying an additional 157 shares during 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.