Alibaba Group (NYSE:BABA) Stock Price Down 1.7% – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA) dropped 1.7% on Wednesday . The company traded as low as $98.60 and last traded at $98.71. Approximately 4,271,673 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 17,842,508 shares. The stock had previously closed at $100.46.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BABA shares. Sanford C. Bernstein lifted their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Susquehanna dropped their price objective on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research note on Monday, October 7th. Barclays boosted their target price on Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, Bank of America lifted their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and an average target price of $112.63.

Alibaba Group Stock Down 2.4 %

The stock has a 50 day moving average price of $93.09 and a 200 day moving average price of $82.71. The stock has a market capitalization of $248.70 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $14.57. The firm had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.47 earnings per share. As a group, analysts forecast that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. First Command Advisory Services Inc. acquired a new stake in Alibaba Group in the second quarter worth $25,000. GPS Wealth Strategies Group LLC grew its stake in shares of Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 209 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in Alibaba Group in the 2nd quarter valued at about $27,000. Register Financial Advisors LLC bought a new stake in shares of Alibaba Group during the first quarter valued at approximately $31,000. Finally, Asset Dedication LLC raised its holdings in Alibaba Group by 315.0% during the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

About Alibaba Group

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.