Alibaba Group (NYSE:BABA) Shares Up 6.7% – Time to Buy?

Alibaba Group Holding Limited (NYSE:BABA) shares rose 6.7% during trading on Wednesday . The stock traded as high as $138.67 and last traded at $138.52. Approximately 14,498,688 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 18,393,104 shares. The stock had previously closed at $129.85.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BABA. Citigroup increased their price target on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a report on Friday, January 10th. Sanford C. Bernstein raised shares of Alibaba Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $104.00 to $165.00 in a report on Tuesday, February 25th. Mizuho boosted their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Arete Research raised Alibaba Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Bank of America boosted their target price on Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $144.07.

Alibaba Group Price Performance

The company’s 50 day simple moving average is $102.16 and its 200-day simple moving average is $95.68. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $334.01 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 0.61 and a beta of 0.31.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The firm had revenue of $38.38 billion during the quarter, compared to analysts’ expectations of $38.19 billion. On average, equities research analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

Several large investors have recently added to or reduced their stakes in the business. Decker Retirement Planning Inc. acquired a new stake in shares of Alibaba Group in the fourth quarter worth approximately $31,000. Sierra Ocean LLC purchased a new position in Alibaba Group during the fourth quarter worth approximately $32,000. Assetmark Inc. boosted its holdings in shares of Alibaba Group by 225.4% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 275 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its stake in shares of Alibaba Group by 59.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer’s stock valued at $46,000 after buying an additional 200 shares during the period. Finally, Redwood Park Advisors LLC acquired a new stake in shares of Alibaba Group during the 4th quarter worth $52,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.