Alibaba Group (NYSE:BABA) Trading 0.8% Higher - Time to Buy?

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares shot up 0.8% during mid-day trading on Thursday . The stock traded as high as $121.45 and last traded at $120.39. 3,062,603 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 20,606,346 shares. The stock had previously closed at $119.43.

Wall Street Analyst Weigh In

Several analysts have recently commented on BABA shares. Robert W. Baird increased their price objective on Alibaba Group from $110.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Sanford C. Bernstein upgraded Alibaba Group from a "market perform" rating to an "outperform" rating and increased their price target for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. Arete Research upgraded Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. Bank of America increased their price objective on shares of Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, StockNews.com raised shares of Alibaba Group from a "hold" rating to a "buy" rating in a research report on Thursday, April 3rd. Fourteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $150.36.

Alibaba Group Trading Up 4.4 %

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 stock has a market capitalization of $300.54 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 0.61 and a beta of 0.24. The company has a fifty day moving average of $125.16 and a two-hundred day moving average of $105.33.

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). The firm had revenue of $38.38 billion during the quarter, compared to analysts' expectations of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. On average, research analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BABA. Retirement Planning Co of New England Inc. boosted its position in Alibaba Group by 58.5% during the first quarter. Retirement Planning Co of New England Inc. now owns 16,347 shares of the specialty retailer's stock worth $2,162,000 after acquiring an additional 6,035 shares during the last quarter. Hardy Reed LLC purchased a new stake in shares of Alibaba Group in the first quarter valued at $264,000. Commerzbank Aktiengesellschaft FI increased its stake in Alibaba Group by 82.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,131 shares of the specialty retailer's stock valued at $678,000 after purchasing an additional 2,316 shares during the last quarter. Forum Financial Management LP purchased a new position in Alibaba Group during the first quarter worth about $284,000. Finally, Fortis Group Advisors LLC boosted its stake in Alibaba Group by 24,466.7% in the 1st quarter. Fortis Group Advisors LLC now owns 6,633 shares of the specialty retailer's stock worth $877,000 after buying an additional 6,606 shares during the last quarter. 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.