Alibaba Group (NYSE:BABA) Shares Gap Up – Still a Buy?

Alibaba Group Holding Limited (NYSE:BABA) gapped up prior to trading on Monday . The stock had previously closed at $152.93, but opened at $160.00. Alibaba Group shares last traded at $160.3880, with a volume of 7,478,965 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently commented on BABA shares. Bank of America increased their target price on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Robert W. Baird boosted their price target on shares of Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. reduced their price objective on shares of Alibaba Group from $245.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, October 9th. UBS Group reaffirmed a “buy” rating and issued a $162.00 target price on shares of Alibaba Group in a research report on Sunday, August 31st. Finally, Benchmark upped their target price on Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and an average target price of $190.18.

Alibaba Group Stock Up 5.4%

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 stock has a market cap of $384.47 billion, a P/E ratio of 18.74, a PEG ratio of 2.40 and a beta of 0.19. The firm has a 50-day simple moving average of $168.71 and a two-hundred day simple moving average of $137.89.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Kingstone Capital Partners Texas LLC lifted its holdings in Alibaba Group by 1,349,768.3% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock worth $5,558,646,000 after buying an additional 49,010,087 shares during the period. Capital World Investors increased its stake in Alibaba Group by 1,074.9% in the third quarter. Capital World Investors now owns 6,038,318 shares of the specialty retailer’s stock valued at $1,079,229,000 after purchasing an additional 5,524,354 shares in the last quarter. Norges Bank acquired a new position in Alibaba Group during the 2nd quarter worth approximately $527,243,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Alibaba Group by 85.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock worth $1,131,558,000 after purchasing an additional 3,947,460 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Alibaba Group by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock valued at $2,069,144,000 after buying an additional 2,885,154 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.

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.