Alibaba Group (NYSE:BABA) Stock Price Up 3.9% - Here's Why

Key Points

• Shares of Alibaba Group rose by 3.9% on Monday, trading as high as $174.97 before closing at $173.61.
• Different analysts have varying outlooks on the stock; Benchmark increased its target price from $176.00 to $195.00, while Zacks Research downgraded it from a "hold" to a "strong sell" rating.
• The stock currently has a consensus rating of "Moderate Buy" with an average target price of $188.06, showing optimistic growth potential despite mixed analyst opinions.

Shares of Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) rose 3.9% during trading on Monday . The stock traded as high as $174.97 and last traded at $173.61. Approximately 20,040,064 shares were traded during mid-day trading, a decline of 7% from the average daily volume of 21,496,090 shares. The stock had previously closed at $167.05.

Wall Street Analysts Forecast Growth

BABA has been the subject of several research reports. Benchmark raised their target price on Alibaba Group from $176.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Zacks Research lowered Alibaba Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 14th. Sanford C. Bernstein lifted their price objective on Alibaba Group from $167.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, October 10th. Finally, Susquehanna lifted their price objective on Alibaba Group from $175.00 to $190.00 and gave the stock a "positive" rating in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.06.

Alibaba Group Price Performance

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 50-day moving average of $150.98 and a 200-day moving average of $128.64. The firm has a market capitalization of $413.90 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 2.23 and a beta of 0.18.

Institutional Investors Weigh In On Alibaba Group

Institutional investors have recently bought and sold shares of the company. North Ridge Wealth Advisors Inc. bought a new stake in Alibaba Group in the 1st quarter valued at approximately $26,000. Summit Securities Group LLC lifted its stake in 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 acquiring an additional 59,000 shares in the last quarter. Ransom Advisory Ltd bought a new stake in Alibaba Group in the 1st quarter valued at approximately $26,000. 1248 Management LLC bought a new stake in Alibaba Group in the 1st quarter valued at approximately $26,000. Finally, Rosenberg Matthew Hamilton bought a new stake in Alibaba Group in the 2nd quarter valued at approximately $26,000. 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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