Alibaba Group (NYSE:BABA) Stock Price Up 1.8% – Should You Buy?

Alibaba Group Holding Limited (NYSE:BABAGet Free Report)’s share price shot up 1.8% during trading on Wednesday . The company traded as high as $177.87 and last traded at $175.77. 8,893,520 shares were traded during mid-day trading, a decline of 44% from the average session volume of 15,852,961 shares. The stock had previously closed at $172.72.

Trending Headlines about Alibaba Group

Here are the key news stories impacting Alibaba Group this week:

Analysts Set New Price Targets

BABA has been the subject of several recent research reports. Sanford C. Bernstein dropped their price objective on shares of Alibaba Group from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Wednesday, November 26th. Macquarie reissued an “outperform” rating on shares of Alibaba Group in a report on Tuesday, November 25th. Citigroup lifted their price target on shares of Alibaba Group from $218.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Zacks Research downgraded shares of Alibaba Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Finally, Jefferies Financial Group decreased their price target on Alibaba Group from $231.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Eighteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average price target of $195.17.

Check Out Our Latest Report on Alibaba Group

Alibaba Group Stock Up 1.8%

The stock’s 50-day moving average is $157.49 and its 200-day moving average is $151.26. The stock has a market cap of $419.64 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 3.69 and a beta of 0.37. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.23.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds have recently modified their holdings of BABA. Geneos Wealth Management Inc. lifted its holdings in shares of Alibaba Group by 22.1% during the fourth quarter. Geneos Wealth Management Inc. now owns 6,001 shares of the specialty retailer’s stock valued at $880,000 after purchasing an additional 1,086 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its holdings in shares of Alibaba Group by 60.5% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 23,101 shares of the specialty retailer’s stock worth $3,386,000 after buying an additional 8,707 shares during the period. Mystic Asset Management Inc. boosted its holdings in shares of Alibaba Group by 0.5% in the fourth quarter. Mystic Asset Management Inc. now owns 16,462 shares of the specialty retailer’s stock worth $2,413,000 after buying an additional 89 shares during the period. EPG Wealth Management LLC raised its holdings in shares of Alibaba Group by 309.2% during the fourth quarter. EPG Wealth Management LLC now owns 5,266 shares of the specialty retailer’s stock valued at $772,000 after acquiring an additional 3,979 shares during the period. Finally, HB Wealth Management LLC lifted its position in shares of Alibaba Group by 12.1% in the 4th quarter. HB Wealth Management LLC now owns 8,971 shares of the specialty retailer’s stock valued at $1,315,000 after acquiring an additional 968 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

About Alibaba Group

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Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

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