Alibaba Group (NYSE:BABA) Shares Gap Up to $72.99

Alibaba Group Holding Limited (NYSE:BABA)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $72.99, but opened at $74.45. Alibaba Group shares last traded at $74.62, with a volume of 5,610,758 shares changing hands.

Analyst Ratings Changes

Several research firms recently issued reports on BABA. Robert W. Baird reduced their price objective on shares of Alibaba Group from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Morgan Stanley reissued an “equal weight” rating and issued a $85.00 price objective on shares of Alibaba Group in a research note on Tuesday. Barclays decreased their target price on Alibaba Group from $138.00 to $109.00 and set an “overweight” rating for the company in a research report on Friday, January 12th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $112.91.

Alibaba Group Trading Up 0.3 %

The business has a 50-day moving average of $73.60 and a two-hundred day moving average of $76.57. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $189.93 billion, a price-to-earnings ratio of 13.81 and a beta of 0.46.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). The firm had revenue of $260.35 billion for the quarter, compared to the consensus estimate of $260.26 billion. Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 earnings per share. Research analysts predict that Alibaba Group Holding Limited will post 7.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds have recently made changes to their positions in the business. Princeton Global Asset Management LLC bought a new stake in Alibaba Group in the third quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Alibaba Group in the 3rd quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC raised its holdings in shares of Alibaba Group by 116.7% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer’s stock worth $28,000 after buying an additional 175 shares in the last quarter. Baystate Wealth Management LLC lifted its position in shares of Alibaba Group by 184.6% during the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock worth $26,000 after buying an additional 216 shares during the period. Finally, First Command Advisory Services Inc. acquired a new stake in Alibaba Group in the 3rd quarter valued at $30,000. Institutional investors and hedge funds 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.