Alibaba Group (NYSE:BABA) Shares Down 0.6% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s stock price traded down 0.6% during mid-day trading on Monday . The company traded as low as $87.95 and last traded at $88.02. 4,484,223 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 17,636,059 shares. The stock had previously closed at $88.59.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BABA. Sanford C. Bernstein lifted their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Truist Financial dropped their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Robert W. Baird increased their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus price target of $114.07.

Alibaba Group Trading Down 2.6 %

The business has a 50 day moving average of $98.41 and a 200 day moving average of $85.81. The firm has a market capitalization of $208.48 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 0.39 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41.

Alibaba Group (NYSE:BABA) last posted its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $13.19. The company had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a return on equity of 12.23% and a net margin of 8.98%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.82 EPS. As a group, research analysts predict that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

Hedge funds have recently bought and sold shares of the company. First Command Advisory Services Inc. bought a new stake in shares of Alibaba Group in the 2nd quarter valued at $25,000. GPS Wealth Strategies Group LLC increased its holdings in shares of Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Alibaba Group during the second quarter worth about $27,000. Concord Wealth Partners lifted its holdings in shares of Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares in the last quarter. Finally, Highline Wealth Partners LLC acquired a new position in shares of Alibaba Group in the 3rd quarter valued at approximately $36,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

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.