Alibaba Group Holding Limited (NYSE:BABA – Get Free Report)’s stock price was up 8.3% on Wednesday after Robert W. Baird raised their price target on the stock from $153.00 to $174.00. Robert W. Baird currently has an outperform rating on the stock. Alibaba Group traded as high as $180.16 and last traded at $176.66. Approximately 52,353,910 shares were traded during trading, an increase of 141% from the average daily volume of 21,679,189 shares. The stock had previously closed at $163.08.
A number of other research firms also recently weighed in on BABA. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $160.00 price target on shares of Alibaba Group in a research note on Saturday, August 30th. Bank of America increased their price target on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday. Arete Research raised shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Jefferies Financial Group increased their price target on shares of Alibaba Group from $165.00 to $178.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Finally, Barclays increased their price target on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Alibaba Group presently has a consensus rating of “Buy” and an average target price of $172.81.
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Institutional Investors Weigh In On Alibaba Group
Large investors have recently added to or reduced their stakes in the company. North Ridge Wealth Advisors Inc. acquired a new stake in Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC grew its holdings in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 59,000 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in Alibaba Group during the 1st quarter valued at $26,000. 1248 Management LLC acquired a new stake in Alibaba Group during the 1st quarter valued at $26,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in Alibaba Group during the 2nd quarter valued at $26,000. 13.47% of the stock is owned by institutional investors and hedge funds.
Alibaba Group Stock Performance
The stock’s fifty day moving average is $133.34 and its two-hundred day moving average is $124.47. The firm has a market capitalization of $418.21 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 2.17 and a beta of 0.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.
About Alibaba Group
(Get Free Report)
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.
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