Alibaba Group (NYSE:BABA) Trading 1.8% Higher – Should You Buy?

Shares of Alibaba Group Holding Limited (NYSE:BABA) were up 1.8% during trading on Thursday . The stock traded as high as $170.55 and last traded at $167.79. Approximately 12,112,399 shares changed hands during trading, a decline of 42% from the average daily volume of 20,916,484 shares. The stock had previously closed at $164.82.

Analysts Set New Price Targets

Several equities analysts have commented on BABA shares. Zacks Research lowered shares of Alibaba Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. CLSA raised their target price on shares of Alibaba Group from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 2nd. JPMorgan Chase & Co. lowered their target price on shares of Alibaba Group from $245.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. Arete Research upgraded shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Finally, Susquehanna raised their target price on shares of Alibaba Group from $175.00 to $190.00 and gave the stock a “positive” rating in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.18.

Alibaba Group Stock Up 1.8%

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 has a market cap of $400.35 billion, a PE ratio of 19.51, a P/E/G ratio of 2.40 and a beta of 0.19. The business’s 50-day simple moving average is $163.88 and its 200 day simple moving average is $134.48.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BABA. Mather Group LLC. purchased a new position in shares of Alibaba Group in the 3rd quarter worth approximately $30,000. NBT Bank N A NY grew its position in shares of Alibaba Group by 231.5% in the 3rd quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock worth $32,000 after buying an additional 125 shares during the last quarter. 1248 Management LLC purchased a new position in shares of Alibaba Group in the 1st quarter worth approximately $26,000. North Ridge Wealth Advisors Inc. purchased a new position in shares of Alibaba Group in the 1st quarter worth approximately $26,000. Finally, Summit Securities Group LLC grew its position in shares of Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after buying an additional 59,000 shares during the last quarter. Hedge funds and other institutional investors 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.