Alibaba Group (NYSE:BABA) Hits New 1-Year High - Time to Buy?

Key Points

• Alibaba Group's stock reached a new 52-week high at $167.44, with a closing price of $164.21 and over 18 million shares traded.
• Multiple analysts have raised their price targets for Alibaba, with Bank of America setting a target of $152 and Benchmark raising theirs to $195, while the average target is $168.81.
• Institutional investors have been actively trading Alibaba's stock, with several firms, such as North Ridge Wealth Advisors, acquiring new positions valued at approximately $26,000 in the first quarter.

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $167.44 and last traded at $164.21, with a volume of 18631078 shares changing hands. The stock had previously closed at $162.81.

Analysts Set New Price Targets

A number of research firms have commented on BABA. Bank of America raised their target price on Alibaba Group from $135.00 to $152.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Benchmark raised their target price on Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Robert W. Baird lifted their price target on Alibaba Group from $142.00 to $153.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 2nd. Zacks Research raised Alibaba Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 9th. Finally, Jefferies Financial Group lifted their price target on Alibaba Group from $165.00 to $178.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Alibaba Group currently has a consensus rating of "Buy" and an average price target of $168.81.

Alibaba Group Stock Up 0.9%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $391.48 billion, a PE ratio of 19.09, a PEG ratio of 2.00 and a beta of 0.11. The firm has a fifty day simple moving average of $130.04 and a 200 day simple moving average of $123.54.

Institutional Trading of Alibaba Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. North Ridge Wealth Advisors Inc. acquired a new position in shares of Alibaba Group in the 1st quarter valued at about $26,000. Summit Securities Group LLC lifted its stake in shares of Alibaba Group by 100.3% in 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 position in shares of Alibaba Group in the 1st quarter valued at about $26,000. 1248 Management LLC acquired a new position in shares of Alibaba Group in the 1st quarter valued at about $26,000. Finally, Rosenberg Matthew Hamilton acquired a new position in shares of Alibaba Group in the 2nd quarter valued at about $26,000. Hedge funds and other institutional investors own 13.47% of the company's stock.

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.

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