Alibaba Group (NYSE:BABA) Trading Up 1.6% - Time to Buy?

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price rose 1.6% during mid-day trading on Friday . The stock traded as high as $115.73 and last traded at $114.62. Approximately 12,208,681 shares changed hands during trading, a decline of 30% from the average daily volume of 17,516,879 shares. The stock had previously closed at $112.84.

Analysts Set New Price Targets

BABA has been the subject of several analyst reports. Bank of America boosted their target price on Alibaba Group from $103.00 to $106.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Susquehanna decreased their price objective on Alibaba Group from $135.00 to $130.00 and set a "positive" rating for the company in a research report on Monday, August 19th. JPMorgan Chase & Co. boosted their price objective on Alibaba Group from $100.00 to $108.00 and gave the company an "overweight" rating in a research report on Friday, August 16th. Loop Capital reiterated a "buy" rating and issued a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Finally, Truist Financial decreased their price objective on Alibaba Group from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, August 16th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $107.61.

Alibaba Group Trading Up 1.5 %

The company has a market cap of $290.62 billion, a P/E ratio of 26.70, a PEG ratio of 0.46 and a beta of 0.33. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average price of $86.60 and a 200-day moving average price of $79.79.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Primecap Management Co. CA boosted its stake in Alibaba Group by 5.2% in the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer's stock valued at $1,574,711,000 after purchasing an additional 1,074,175 shares during the period. FIL Ltd increased its position in Alibaba Group by 10.2% during the fourth quarter. FIL Ltd now owns 10,630,701 shares of the specialty retailer's stock worth $823,986,000 after acquiring an additional 983,842 shares during the period. H&H International Investment LLC boosted its holdings in Alibaba Group by 63.1% in the 4th quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer's stock valued at $384,390,000 after purchasing an additional 1,918,730 shares during the period. ARGA Investment Management LP grew its position in shares of Alibaba Group by 39.2% during the 1st quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer's stock worth $259,194,000 after purchasing an additional 1,009,397 shares in the last quarter. Finally, Discerene Group LP increased its holdings in shares of Alibaba Group by 21.2% during the first quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer's stock worth $218,627,000 after purchasing an additional 529,237 shares during the period. 13.47% of the stock is owned by institutional investors.

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.