Alibaba Group (NYSE:BABA) Trading 0.9% Higher

Shares of Alibaba Group Holding Limited (NYSE:BABA) rose 0.9% during mid-day trading on Thursday . The stock traded as high as $69.53 and last traded at $69.44. Approximately 2,809,136 shares traded hands during trading, a decline of 85% from the average daily volume of 18,184,691 shares. The stock had previously closed at $68.82.

Wall Street Analysts Forecast Growth

BABA has been the topic of several analyst reports. Mizuho reaffirmed a “buy” rating and issued a $95.00 target price on shares of Alibaba Group in a research report on Wednesday, March 27th. Robert W. Baird cut their price objective on shares of Alibaba Group from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, January 19th. Benchmark restated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Wednesday, April 10th. Susquehanna cut their price objective on shares of Alibaba Group from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Thursday, February 8th. Finally, StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $112.91.

Alibaba Group Trading Up 0.1 %

The company has a fifty day moving average of $73.24 and a two-hundred day moving average of $76.05. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $174.86 billion, a price-to-earnings ratio of 12.71 and a beta of 0.46.

Alibaba Group (NYSE:BABA) last posted 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). The company had revenue of $260.35 billion during the quarter, compared to analyst estimates of $260.26 billion. Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.44 earnings per share. On average, research analysts expect that Alibaba Group Holding Limited will post 7.76 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC increased its position in Alibaba Group by 106.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 13,783 shares of the specialty retailer’s stock worth $997,000 after buying an additional 7,119 shares during the period. Miracle Mile Advisors LLC increased its position in Alibaba Group by 4.9% in the 1st quarter. Miracle Mile Advisors LLC now owns 10,817 shares of the specialty retailer’s stock worth $783,000 after buying an additional 507 shares during the period. Hi Line Capital Management LLC increased its position in Alibaba Group by 1.4% in the 1st quarter. Hi Line Capital Management LLC now owns 79,970 shares of the specialty retailer’s stock worth $5,787,000 after buying an additional 1,096 shares during the period. Wolff Wiese Magana LLC increased its position in Alibaba Group by 69.2% in the 1st quarter. Wolff Wiese Magana LLC now owns 1,100 shares of the specialty retailer’s stock worth $80,000 after buying an additional 450 shares during the period. Finally, Blue Zone Wealth Advisors LLC increased its position in Alibaba Group by 1.6% in the 1st quarter. Blue Zone Wealth Advisors LLC now owns 50,631 shares of the specialty retailer’s stock worth $3,664,000 after buying an additional 807 shares during the period. 13.47% of the stock is owned by 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.