Alibaba Group (NYSE:BABA) Trading Up 2.1% – Should You Buy?

Alibaba Group Holding Limited (NYSE:BABA) shares rose 2.1% on Friday . The company traded as high as $111.52 and last traded at $109.03. Approximately 17,805,254 shares traded hands during trading, a decline of 14% from the average daily volume of 20,607,737 shares. The stock had previously closed at $106.75.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BABA shares. Barclays boosted their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Benchmark increased their price target on shares of Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Robert W. Baird upped their price objective on Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. raised their target price on Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, Mizuho upped their price target on Alibaba Group from $140.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, March 28th. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $150.36.

Alibaba Group Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The stock’s 50 day simple moving average is $127.07 and its two-hundred day simple moving average is $104.68. The company has a market capitalization of $260.55 billion, a P/E ratio of 15.76, a P/E/G ratio of 0.61 and a beta of 0.24.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data 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 company had revenue of $38.38 billion during the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. As a group, research analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Hedge Funds Weigh In On Alibaba Group

Hedge funds have recently added to or reduced their stakes in the company. Appaloosa LP lifted its position in Alibaba Group by 18.4% during the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock valued at $1,004,181,000 after purchasing an additional 1,843,158 shares during the period. Norges Bank bought a new stake in shares of Alibaba Group during the fourth quarter worth approximately $585,479,000. Bank of America Corp DE lifted its holdings in Alibaba Group by 7.0% in the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer’s stock valued at $566,124,000 after buying an additional 438,537 shares during the period. Fisher Asset Management LLC boosted its stake in Alibaba Group by 1.6% in the fourth quarter. Fisher Asset Management LLC now owns 5,093,828 shares of the specialty retailer’s stock valued at $431,906,000 after acquiring an additional 78,757 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Alibaba Group by 19.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer’s stock worth $390,885,000 after acquiring an additional 752,275 shares during the period. 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.