Alibaba Group (NYSE:BABA) Trading Up 11.6% - Should You Buy?

Key Points

• Alibaba Group's share price rose by 11.6% to $133.41, with trading volume significantly increasing by 98% compared to its average daily volume.
• Wall Street analysts show mixed sentiments, with ten analysts rating the stock as a Buy and two holding it, while the average target price is set at $159.67.
• Institutional investors have been active, with notable increases in holdings, including a drastic 1,215,800% increase by Infini Capital Management Ltd.

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price was up 11.6% on Friday . The company traded as high as $134.50 and last traded at $133.41. Approximately 41,294,927 shares were traded during mid-day trading, an increase of 98% from the average daily volume of 20,860,740 shares. The stock had previously closed at $119.57.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Benchmark restated a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Bank of America cut their price objective on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Barclays decreased their price target on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Finally, Morgan Stanley set a $180.00 price target on Alibaba Group in a report on Wednesday, May 14th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Alibaba Group currently has an average rating of "Moderate Buy" and an average target price of $159.67.

Alibaba Group Trading Up 13.0%

The stock's 50 day moving average is $117.06 and its 200-day moving average is $121.53. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market capitalization of $322.31 billion, a P/E ratio of 18.14, a P/E/G ratio of 1.80 and a beta of 0.17.

Institutional Investors Weigh In On Alibaba Group

Several institutional investors and hedge funds have recently modified their holdings of BABA. Infini Capital Management Ltd lifted its position in Alibaba Group by 1,215,800.0% in the second quarter. Infini Capital Management Ltd now owns 303,975 shares of the specialty retailer's stock worth $34,474,000 after buying an additional 303,950 shares during the last quarter. Orion Porfolio Solutions LLC lifted its position in Alibaba Group by 3.9% in the second quarter. Orion Porfolio Solutions LLC now owns 33,111 shares of the specialty retailer's stock worth $3,755,000 after buying an additional 1,239 shares during the last quarter. Marex Group plc bought a new stake in shares of Alibaba Group during the second quarter worth $17,139,000. Advisory Services Network LLC lifted its position in shares of Alibaba Group by 2.2% during the second quarter. Advisory Services Network LLC now owns 18,746 shares of the specialty retailer's stock worth $2,261,000 after purchasing an additional 399 shares during the last quarter. Finally, Tactive Advisors LLC bought a new stake in shares of Alibaba Group during the second quarter worth $411,000. Institutional investors own 13.47% of the company's stock.

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.

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