Alibaba Group (NYSE:BABA) Reaches New 12-Month High Following Analyst Upgrade

Alibaba Group Holding Limited (NYSE:BABA)’s share price reached a new 52-week high during trading on Wednesday after StockNews.com upgraded the stock from a hold rating to a buy rating. The stock traded as high as $129.02 and last traded at $127.18, with a volume of 42016984 shares changing hands. The stock had previously closed at $124.73.

Several other equities analysts have also commented on BABA. Barclays dropped their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Citigroup upped their target price on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Friday, November 15th. Mizuho upped their target price on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird upped their target price on Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $116.93.

Institutional Investors Weigh In On Alibaba Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. AMF Tjanstepension AB boosted its holdings in Alibaba Group by 6.9% in the third quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock valued at $296,062,000 after purchasing an additional 178,999 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Alibaba Group by 47.1% in the third quarter. Private Advisor Group LLC now owns 100,975 shares of the specialty retailer’s stock valued at $10,715,000 after purchasing an additional 32,324 shares during the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in Alibaba Group in the third quarter valued at about $299,000. International Assets Investment Management LLC boosted its holdings in Alibaba Group by 9,205.2% in the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock valued at $1,801,240,000 after purchasing an additional 1,679,117 shares during the last quarter. Finally, Brighton Jones LLC purchased a new position in Alibaba Group in the third quarter valued at about $258,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

The stock has a market cap of $323.74 billion, a PE ratio of 27.64, a P/E/G ratio of 0.54 and a beta of 0.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The business has a fifty day moving average of $94.31 and a 200 day moving average of $92.42.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. Sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

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.