Alibaba Group (NYSE:BABA) Trading Up 3.6% - Here's Why

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) was up 3.6% on Wednesday . The stock traded as high as $123.81 and last traded at $120.09. Approximately 15,464,744 shares changed hands during trading, a decline of 25% from the average daily volume of 20,682,243 shares. The stock had previously closed at $115.88.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BABA. Mizuho upgraded Alibaba Group to a "strong-buy" rating in a research report on Friday, April 18th. Bank of America boosted their price target on Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Arete Research upgraded shares of Alibaba Group to a "strong-buy" rating in a report on Friday, February 28th. Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $104.00 to $165.00 in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Fourteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $150.36.

Alibaba Group Stock Up 0.9 %

The firm has a market cap of $287.60 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. The stock's 50 day simple moving average is $126.47 and its 200 day simple moving average is $104.83. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48.

Alibaba Group (NYSE:BABA - Get Free Report) last posted its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.07). The business had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. Research analysts anticipate that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds have recently bought and sold shares of BABA. Decker Retirement Planning Inc. purchased a new stake in shares of Alibaba Group during the 4th quarter valued at $31,000. Bruce G. Allen Investments LLC bought a new stake in shares of Alibaba Group in the 1st quarter worth approximately $31,000. Inlight Wealth Management LLC bought a new position in Alibaba Group during the first quarter valued at $31,000. Sierra Ocean LLC purchased a new stake in Alibaba Group in the fourth quarter worth $32,000. Finally, Valley National Advisers Inc. raised its stake in shares of Alibaba Group by 151.9% in the first quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock valued at $35,000 after buying an additional 161 shares during the period. 13.47% of the stock is owned by hedge funds and other 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.