Alibaba Group (NYSE:BABA) Shares Gap Up to $101.45

Posted by on Jun 17th, 2022

Alibaba Group Holding Limited (NYSE:BABA – Get Rating) shares gapped up before the market opened on Friday . The stock had previously closed at $101.45, but opened at $112.03. Alibaba Group shares last traded at $106.95, with a volume of 702,884 shares traded.

BABA has been the topic of a number of research reports. Morgan Stanley dropped their target price on shares of Alibaba Group from $165.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, February 25th. Barclays reduced their target price on shares of Alibaba Group from $170.00 to $161.00 and set an “overweight” rating for the company in a research note on Friday, May 27th. StockNews.com assumed coverage on shares of Alibaba Group in a research report on Thursday, March 31st. They set a “hold” rating for the company. Mizuho reduced their price target on shares of Alibaba Group from $180.00 to $160.00 in a research report on Monday, May 2nd. Finally, Bank of America lowered their price target on shares of Alibaba Group from $203.00 to $193.00 and set a “buy” rating on the stock in a report on Friday, February 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alibaba Group currently has an average rating of “Buy” and an average target price of $188.49.

The company has a current ratio of 1.66, a quick ratio of 1.64 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $279.60 billion, a P/E ratio of 33.05, a P/E/G ratio of 1.81 and a beta of 0.91. The company has a 50 day simple moving average of $94.19 and a two-hundred day simple moving average of $108.76.

Alibaba Group (NYSE:BABA – Get Rating) last released its quarterly earnings results on Thursday, May 26th. The specialty retailer reported $1.45 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.78. The company had revenue of $204.05 billion for the quarter, compared to analyst estimates of $199.43 billion. Alibaba Group had a return on equity of 11.17% and a net margin of 6.35%. Alibaba Group’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 EPS. On average, sell-side analysts expect that Alibaba Group Holding Limited will post 6.34 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Camden National Bank raised its stake in Alibaba Group by 56.8% in the fourth quarter. Camden National Bank now owns 27,238 shares of the specialty retailer’s stock valued at $6,339,000 after buying an additional 9,866 shares during the last quarter. Consolidated Planning Corp purchased a new position in shares of Alibaba Group in the third quarter worth about $30,000. Clear Street LLC purchased a new position in Alibaba Group during the fourth quarter valued at approximately $61,770,000. Chilton Capital Management LLC acquired a new stake in Alibaba Group in the fourth quarter valued at approximately $28,000. Finally, 7G Capital Management LLC acquired a new stake in shares of Alibaba Group in the fourth quarter worth approximately $11,582,000. 17.39% of the stock is currently owned by institutional investors.

Alibaba Group Company Profile (NYSE:BABA)

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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