Alibaba Group (NYSE:BABA) Stock Price Up 1.4% Following Analyst Upgrade

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares traded up 1.4% on Wednesday after Barclays raised their price target on the stock from $107.00 to $137.00. Barclays currently has an overweight rating on the stock. Alibaba Group traded as high as $103.60 and last traded at $103.30. 4,610,551 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 17,870,131 shares. The stock had previously closed at $101.84.

Other analysts have also issued reports about the company. Susquehanna lowered their target price on Alibaba Group from $135.00 to $130.00 and set a "positive" rating for the company in a research note on Monday, August 19th. Truist Financial dropped 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. Sanford C. Bernstein upped their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a "market perform" rating in a research report on Friday, August 16th. Robert W. Baird raised their price target on shares of Alibaba Group from $85.00 to $88.00 and gave the company an "outperform" rating in a report on Friday, August 16th. Finally, Loop Capital reaffirmed a "buy" rating and set a $115.00 price objective on shares of Alibaba Group in a report on Thursday, August 29th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.63.

Hedge Funds Weigh In On Alibaba Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Command Advisory Services Inc. acquired a new position in shares of Alibaba Group in the 2nd quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC lifted its stake in Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer's stock valued at $26,000 after buying an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Alibaba Group in the second quarter valued at approximately $27,000. Register Financial Advisors LLC bought a new stake in shares of Alibaba Group during the first quarter worth $31,000. Finally, Asset Dedication LLC raised its holdings in shares of Alibaba Group by 315.0% during the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer's stock worth $38,000 after acquiring an additional 400 shares during the period. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Up 0.3 %

The firm's 50-day moving average is $90.97 and its 200 day moving average is $81.70. The firm has a market capitalization of $259.26 billion, a P/E ratio of 24.08, a PEG ratio of 0.55 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA - Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion during the quarter, compared to analysts' expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group's revenue for the quarter 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 predict that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

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.