Alibaba Group (NYSE:BABA) Stock Price Up 2.4%

Shares of Alibaba Group Holding Limited (NYSE:BABA) rose 2.4% during trading on Tuesday . The company 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

BABA has been the topic of a number of research analyst reports. Morgan Stanley reissued an “equal weight” rating and set a $85.00 price objective on shares of Alibaba Group in a report on Tuesday, April 9th. Citigroup reduced their price target on shares of Alibaba Group from $126.00 to $124.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Robert W. Baird reduced their price target on shares of Alibaba Group from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. Benchmark reaffirmed a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a report on Wednesday, April 10th. Finally, Barclays reduced their price target on shares of Alibaba Group from $138.00 to $109.00 and set an “overweight” rating on the stock in a report on Friday, January 12th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.91.

Alibaba Group Stock Performance

The stock has a 50 day simple moving average of $73.14 and a 200 day simple moving average of $75.57. 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 company has a market cap of $189.37 billion, a price-to-earnings ratio of 13.77 and a beta of 0.46.

Alibaba Group (NYSE:BABA) last issued its earnings results 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 company had revenue of $260.35 billion during the quarter, compared to analysts’ expectations of $260.26 billion. During the same period in the previous year, the company earned $2.44 EPS. Alibaba Group’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts predict that Alibaba Group Holding Limited will post 7.54 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Savant Capital LLC lifted its holdings in Alibaba Group by 2.7% during the 3rd quarter. Savant Capital LLC now owns 4,756 shares of the specialty retailer’s stock worth $413,000 after buying an additional 127 shares during the last quarter. Johnson Investment Counsel Inc. raised its position in shares of Alibaba Group by 2.1% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 6,727 shares of the specialty retailer’s stock worth $584,000 after purchasing an additional 136 shares during the period. Clearstead Advisors LLC raised its position in shares of Alibaba Group by 32.9% during the 3rd quarter. Clearstead Advisors LLC now owns 573 shares of the specialty retailer’s stock worth $50,000 after purchasing an additional 142 shares during the period. Pinnacle Bancorp Inc. raised its position in shares of Alibaba Group by 45.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 458 shares of the specialty retailer’s stock worth $40,000 after purchasing an additional 143 shares during the period. Finally, Legacy Advisors LLC raised its position in shares of Alibaba Group by 1.4% during the 4th quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer’s stock worth $826,000 after purchasing an additional 145 shares during the period. 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.