Alibaba Group (NYSE:BABA) Stock Price Up 0.6% - Time to Buy?

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) was up 0.6% on Monday . The stock traded as high as $127.06 and last traded at $126.52. Approximately 4,594,359 shares changed hands during trading, a decline of 78% from the average daily volume of 20,536,810 shares. The stock had previously closed at $125.76.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Mizuho upgraded Alibaba Group to a "strong-buy" rating in a research note on Friday, April 18th. Benchmark increased their price target on Alibaba Group from $118.00 to $190.00 and gave the company a "buy" rating in a report on Friday, February 21st. Citigroup reduced their price objective on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley upgraded shares of Alibaba Group from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $100.00 to $180.00 in a research note on Monday, February 24th. Finally, Robert W. Baird upped their price target on shares of Alibaba Group from $110.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Fourteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $150.36.

Alibaba Group Stock Performance

The stock has a market capitalization of $299.25 billion, a P/E ratio of 18.11, a PEG ratio of 0.61 and a beta of 0.24. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average of $124.45 and a 200 day moving average of $105.98.

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

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds have recently modified their holdings of the stock. Foundations Investment Advisors LLC raised its stake in Alibaba Group by 21.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 155,440 shares of the specialty retailer's stock worth $13,180,000 after acquiring an additional 27,088 shares in the last quarter. Berkshire Asset Management LLC PA acquired a new stake in shares of Alibaba Group during the 4th quarter worth about $911,000. Exchange Traded Concepts LLC lifted its holdings in Alibaba Group by 131.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 74,807 shares of the specialty retailer's stock valued at $6,343,000 after purchasing an additional 42,446 shares during the last quarter. Bailard Inc. lifted its holdings in Alibaba Group by 46.3% during the 4th quarter. Bailard Inc. now owns 10,245 shares of the specialty retailer's stock valued at $869,000 after purchasing an additional 3,242 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in Alibaba Group by 31.3% during the fourth quarter. Park Avenue Securities LLC now owns 18,465 shares of the specialty retailer's stock worth $1,566,000 after buying an additional 4,397 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

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.