Alibaba Group (NYSE:BABA) Trading 0.2% Higher – Time to Buy?

Alibaba Group Holding Limited (NYSE:BABA)’s stock price traded up 0.2% during trading on Thursday . The stock traded as high as $90.00 and last traded at $89.20. 4,574,613 shares changed hands during trading, a decline of 74% from the average session volume of 17,471,047 shares. The stock had previously closed at $88.98.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BABA shares. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research note on Friday, August 23rd. Loop Capital reiterated a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Sanford C. Bernstein raised their price target 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. Bank of America upped their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Mizuho raised their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Stock Down 1.6 %

The company has a market cap of $209.87 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 0.44 and a beta of 0.30. The business has a fifty day moving average of $94.82 and a two-hundred day moving average of $86.30. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping the consensus estimate of $1.87 by $13.19. The business had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.82 EPS. As a group, equities analysts anticipate that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Institutional Trading of Alibaba Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Concord Wealth Partners lifted its stake in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Alibaba Group during the 2nd quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Alibaba Group in the third quarter valued at approximately $36,000. First Command Advisory Services Inc. acquired a new stake in shares of Alibaba Group in the second quarter valued at approximately $25,000. Finally, Assetmark Inc. lifted its position in Alibaba Group by 225.4% during the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after buying an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

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.