Alibaba Group (NYSE:BABA) Trading Up 1.5% – Time to Buy?

Alibaba Group Holding Limited (NYSE:BABA) shares rose 1.5% during mid-day trading on Monday . The company traded as high as $132.91 and last traded at $132.7390. Approximately 9,698,631 shares traded hands during trading, a decline of 22% from the average daily volume of 12,459,470 shares. The stock had previously closed at $130.79.

Analyst Ratings Changes

BABA has been the topic of a number of research analyst reports. Citigroup raised their price target on Alibaba Group from $218.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Nomura increased their target price on Alibaba Group from $193.00 to $237.00 and gave the company a “buy” rating in a research note on Monday, January 26th. JPMorgan Chase & Co. cut their price objective on shares of Alibaba Group from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Weiss Ratings lowered Alibaba Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 27th. Finally, Benchmark restated a “buy” rating and set a $195.00 price objective on shares of Alibaba Group in a research note on Tuesday, November 25th. Sixteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and an average target price of $195.17.

Alibaba Group Stock Performance

The firm’s 50-day moving average is $157.47 and its two-hundred day moving average is $158.23. The stock has a market cap of $316.90 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 2.86 and a beta of 0.43. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.23.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors have recently added to or reduced their stakes in BABA. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Alibaba Group in the fourth quarter valued at approximately $903,000. Sankala Group LLC acquired a new position in shares of Alibaba Group in the 4th quarter valued at approximately $86,000. Banque Transatlantique SA boosted its holdings in shares of Alibaba Group by 0.5% in the fourth quarter. Banque Transatlantique SA now owns 20,615 shares of the specialty retailer’s stock valued at $3,022,000 after buying an additional 95 shares during the period. Sit Investment Associates Inc. raised its stake in shares of Alibaba Group by 48.1% in the 4th quarter. Sit Investment Associates Inc. now owns 3,295 shares of the specialty retailer’s stock valued at $483,000 after purchasing an additional 1,070 shares during the period. Finally, MidFirst Bank bought a new stake in Alibaba Group in the 4th quarter valued at approximately $418,000. 13.47% of the stock is owned by institutional investors and hedge funds.

About Alibaba Group

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.