Alibaba Group (NYSE:BABA) Trading Up 2.4%

Alibaba Group Holding Limited (NYSE:BABA)’s share price was up 2.4% during mid-day trading on Tuesday . The stock traded as high as $72.77 and last traded at $72.37. Approximately 6,891,418 shares changed hands during trading, a decline of 62% from the average daily volume of 18,018,676 shares. The stock had previously closed at $70.68.

Analyst Ratings Changes

Several equities analysts recently commented on BABA shares. Mizuho reissued a “buy” rating and issued a $95.00 price objective on shares of Alibaba Group in a research note on Wednesday, March 27th. Robert W. Baird reduced their price objective on Alibaba Group from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Citigroup cut their price target on Alibaba Group from $126.00 to $124.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lowered their price objective on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $112.91.

Alibaba Group Price Performance

The firm has a market cap of $184.07 billion, a P/E ratio of 13.35 and a beta of 0.47. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $73.09 and its two-hundred day moving average is $75.67.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share for the quarter, missing the consensus estimate of $19.12 by ($0.15). Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The business had revenue of $260.35 billion during the quarter, compared to the consensus estimate of $260.26 billion. During the same period last year, the business posted $2.44 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. As a group, analysts anticipate that Alibaba Group Holding Limited will post 7.54 earnings per share for the current year.

Institutional Trading of Alibaba Group

Several hedge funds have recently modified their holdings of the stock. Princeton Global Asset Management LLC acquired a new stake in Alibaba Group in the third quarter worth $26,000. Baystate Wealth Management LLC grew its stake in shares of Alibaba Group by 184.6% in the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 216 shares during the period. EdgeRock Capital LLC bought a new stake in Alibaba Group in the 4th quarter valued at about $26,000. GPS Wealth Strategies Group LLC raised its stake in Alibaba Group by 116.7% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer’s stock worth $28,000 after buying an additional 175 shares during the period. Finally, First Command Advisory Services Inc. bought a new position in Alibaba Group in the third quarter worth approximately $30,000. 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.