Alibaba Group (NYSE:BABA) Shares Up 2.3% – Still a Buy?

Alibaba Group Holding Limited (NYSE:BABA) traded up 2.3% during mid-day trading on Friday . The company traded as high as $145.36 and last traded at $143.22. 13,287,355 shares traded hands during trading, a decline of 28% from the average session volume of 18,530,612 shares. The stock had previously closed at $139.95.

Analysts Set New Price Targets

BABA has been the topic of several research reports. Sanford C. Bernstein raised shares of Alibaba Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $104.00 to $165.00 in a research report on Tuesday, February 25th. Arete Research upgraded Alibaba Group to a “strong-buy” rating in a research note on Friday, February 28th. Bank of America increased their price objective on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Benchmark increased their price target on Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $144.07.

Alibaba Group Stock Performance

The business’s fifty day moving average price is $105.46 and its 200-day moving average price is $96.81. The stock has a market capitalization of $334.04 billion, a PE ratio of 20.32, a P/E/G ratio of 0.61 and a beta of 0.28. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48.

Alibaba Group (NYSE:BABA) last announced its quarterly 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). The firm had revenue of $38.38 billion during the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. As a group, equities research analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Hedge Funds Weigh In On Alibaba Group

A number of institutional investors have recently added to or reduced their stakes in the business. Rings Capital Management LLC increased its position in shares of Alibaba Group by 1.4% in the fourth quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer’s stock worth $602,000 after purchasing an additional 100 shares during the last quarter. Lindbrook Capital LLC lifted its position in Alibaba Group by 3.7% during the fourth quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer’s stock valued at $240,000 after purchasing an additional 101 shares during the last quarter. Global Endowment Management LP grew its stake in Alibaba Group by 1.4% in the 4th quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer’s stock worth $642,000 after buying an additional 106 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Alibaba Group by 3.6% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer’s stock worth $266,000 after buying an additional 108 shares during the last quarter. Finally, TRUE Private Wealth Advisors raised its position in shares of Alibaba Group by 3.7% during the 3rd quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock valued at $331,000 after buying an additional 112 shares in the last quarter. 13.47% of the stock is currently owned by 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.