Alibaba Group (NYSE:BABA) Stock Price Up 1.9% - Here's Why

Key Points

• Alibaba Group's stock price increased by 1.9% on Wednesday, reaching a last traded price of $165.88 after hitting a high of $168.10.
• Several analysts have raised their price targets for Alibaba, with Susquehanna increasing their target from $175.00 to $190.00 and Nomura from $170.00 to $215.00, indicating a generally positive outlook for the stock.
• Institutional investors and hedge funds currently own approximately 13.47% of Alibaba Group's stock, with multiple new stakes acquired and existing positions increased recently.

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price rose 1.9% on Wednesday . The stock traded as high as $168.10 and last traded at $165.88. Approximately 15,258,142 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 21,572,479 shares. The stock had previously closed at $162.86.

Wall Street Analyst Weigh In

BABA has been the topic of several analyst reports. Susquehanna boosted their price objective on shares of Alibaba Group from $175.00 to $190.00 and gave the stock a "positive" rating in a research note on Thursday, September 18th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Alibaba Group in a research report on Wednesday, October 8th. Robert W. Baird upped their price target on shares of Alibaba Group from $153.00 to $174.00 and gave the company an "outperform" rating in a research report on Wednesday, September 24th. Mizuho upped their price target on shares of Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a research report on Tuesday, September 2nd. Finally, Nomura upped their price target on shares of Alibaba Group from $170.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $188.06.

Alibaba Group Stock Up 1.9%

The firm's fifty day moving average price is $148.27 and its two-hundred day moving average price is $127.93. The stock has a market cap of $395.48 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 2.09 and a beta of 0.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors and hedge funds have recently made changes to their positions in BABA. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group in the 1st quarter worth about $26,000. Summit Securities Group LLC raised its holdings 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 worth $26,000 after acquiring an additional 59,000 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Alibaba Group in the 1st quarter worth about $26,000. 1248 Management LLC acquired a new stake in shares of Alibaba Group in the 1st quarter worth about $26,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in shares of Alibaba Group in the 2nd quarter worth about $26,000. Institutional investors and hedge funds 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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