Alibaba Group Holding Limited (BABA) has risen sharply, recording gains of 14.64% in the past 4 weeks. However, the stock has corrected -1.41% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 14.2% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Alibaba Group Holding Limited is up 22.93% in the last 3-month period. Year-to-Date the stock performance stands at 19.18%. The stock has recorded a 20-day Moving Average of 10.28% and the 50-Day Moving Average is 17.2%.
Alibaba Group Holding Limited (NYSE:BABA): The stock opened at $96.91 on Friday but the bulls could not build on the opening and the stock topped out at $97.24 for the day. The stock traded down to $96.34 during the day, due to lack of any buying support eventually closed down at $96.86 with a loss of -0.14% for the day. The stock had closed at $97.00 on the previous day. The total traded volume was 14,267,089 shares.
Also, Goldman Sachs maintains its rating on Alibaba Group Holding Limited (NYSE:BABA). The global brokerage major raises the current price target from $104 per share to $120 per share. Analysts at the Goldman Sachs have a current rating of Buy on the shares. The rating by the firm was issued on August 12, 2016.
Alibaba Group Holding Limited is a holding company. The Company is principally engaged in online and mobile commerce through products, services and technology. The Company provides retail and wholesale marketplaces available through both personal computer and mobile interfaces in the PRC and internationally. Retail marketplaces and services operated by the Company include the China online shopping destination (Taobao Marketplace); the China brands and retail platform (Tmall); the China group buying site that offers products by aggregating demand from consumers through limited time discounted sales (Juhuasuan), and the global consumer marketplace targeting consumers around the world (AliExpress). Wholesale marketplaces operated by the Company include the online China wholesale marketplace (1688.com) and the online business-to-business marketplace that focuses on global trade among businesses from around the world (Alibaba.com).