Alibaba Group (NYSE:BABA) Trading Up 2.9% – Time to Buy?

Alibaba Group Holding Limited (NYSE:BABA) shares shot up 2.9% during mid-day trading on Monday . The company traded as high as $100.32 and last traded at $100.26. 5,540,810 shares were traded during mid-day trading, a decline of 69% from the average session volume of 17,803,852 shares. The stock had previously closed at $97.42.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BABA. Loop Capital reiterated a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Barclays raised their price objective on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Benchmark reaffirmed a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research note on Friday, August 16th. Robert W. Baird boosted their price objective on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Susquehanna decreased their target price 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. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

Alibaba Group Price Performance

The firm has a market cap of $253.29 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average price of $94.77 and a two-hundred day moving average price of $83.60.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping 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 company had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same quarter last year, the business posted $2.47 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities analysts expect that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Hedge Funds Weigh In On Alibaba Group

A number of institutional investors have recently bought and sold shares of BABA. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Alibaba Group by 1.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,399 shares of the specialty retailer’s stock valued at $1,548,000 after purchasing an additional 241 shares during the period. Principal Financial Group Inc. raised its position in shares of Alibaba Group by 93.1% in the first quarter. Principal Financial Group Inc. now owns 41,129 shares of the specialty retailer’s stock worth $2,976,000 after acquiring an additional 19,832 shares during the period. SpiderRock Advisors LLC purchased a new stake in shares of Alibaba Group during the 1st quarter worth about $490,000. North Star Investment Management Corp. increased its stake in shares of 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 valued at $111,000 after purchasing an additional 154 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC boosted its position in Alibaba Group by 40.9% during the first quarter. SeaBridge Investment Advisors LLC now owns 14,975 shares of the specialty retailer’s stock worth $1,084,000 after purchasing an additional 4,345 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other 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.