Alibaba Group (NYSE:BABA) Trading 3.6% Higher After Analyst Upgrade

Key Points

• Alibaba Group's share price rose by 3.6% after CLSA upgraded their price target from $155.00 to $200.00 and reiterated an outperform rating.
• The stock traded as high as $192.67 during the day, with nearly 23.4 million shares exchanged, marking an 8% increase in trading volume from the average.
• The consensus rating for Alibaba is currently "Buy", with a consensus price target of $181.88 as several brokerages updated their ratings recently.

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price was up 3.6% during mid-day trading on Thursday after CLSA raised their price target on the stock from $155.00 to $200.00. CLSA currently has an outperform rating on the stock. Alibaba Group traded as high as $192.67 and last traded at $189.38. Approximately 23,397,950 shares changed hands during trading, an increase of 8% from the average daily volume of 21,602,252 shares. The stock had previously closed at $182.78.

Several other brokerages have also commented on BABA. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. UBS Group reissued a "buy" rating and set a $162.00 price target on shares of Alibaba Group in a research report on Sunday, August 31st. Zacks Research raised shares of Alibaba Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 9th. Mizuho raised their price objective on shares of Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 2nd. Finally, Bank of America raised their price objective on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $181.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BABA. Accent Capital Management LLC boosted its stake in shares of Alibaba Group by 5.5% during the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock worth $209,000 after acquiring an additional 82 shares during the last quarter. Cary Street Partners Financial LLC lifted its stake in shares of Alibaba Group by 1.8% during the 2nd quarter. Cary Street Partners Financial LLC now owns 4,757 shares of the specialty retailer's stock valued at $539,000 after buying an additional 83 shares in the last quarter. Greenleaf Trust lifted its stake in Alibaba Group by 1.0% in the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock worth $1,102,000 after purchasing an additional 85 shares in the last quarter. Wedbush Securities Inc. lifted its stake in Alibaba Group by 2.1% in the 2nd quarter. Wedbush Securities Inc. now owns 4,237 shares of the specialty retailer's stock worth $480,000 after purchasing an additional 88 shares in the last quarter. Finally, Principal Securities Inc. lifted its stake in Alibaba Group by 0.5% in the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock worth $2,225,000 after purchasing an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Performance

The firm has a market cap of $451.50 billion, a PE ratio of 22.02, a PEG ratio of 2.06 and a beta of 0.18. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm's 50 day simple moving average is $137.93 and its 200 day simple moving average is $125.56.

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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