Alibaba Group (NYSE:BABA) Stock Price Down 2.5% – Should You Sell?

Alibaba Group Holding Limited (NYSE:BABA) shares dropped 2.5% during mid-day trading on Wednesday . The stock traded as low as $94.79 and last traded at $96.70. Approximately 8,926,483 shares changed hands during trading, a decline of 49% from the average daily volume of 17,594,711 shares. The stock had previously closed at $99.21.

Analyst Upgrades and Downgrades

BABA has been the topic of several recent analyst reports. Susquehanna decreased their target price 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. Truist Financial reduced 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. Jefferies Financial Group reissued a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a research report on Friday, July 26th. Loop Capital reissued a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Finally, Bank of America boosted their target price on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus price target of $113.13.

Alibaba Group Stock Down 2.5 %

The firm has a market capitalization of $231.69 billion, a PE ratio of 25.32, a PEG ratio of 0.46 and a beta of 0.35. The company has a fifty day simple moving average of $96.65 and a two-hundred day simple moving average of $84.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. The firm had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.47 EPS. Analysts forecast that Alibaba Group Holding Limited will post 8.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Central Asset Investments & Management Holdings HK Ltd increased its holdings in shares of Alibaba Group by 1,972.8% in the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 94,457 shares of the specialty retailer’s stock valued at $10,024,000 after purchasing an additional 89,900 shares during the period. BluePointe Capital Management LLC acquired a new position in shares of Alibaba Group in the third quarter valued at about $210,000. Dearborn Partners LLC acquired a new position in shares of Alibaba Group in the third quarter valued at about $226,000. Intellectus Partners LLC increased its holdings in shares of Alibaba Group by 7.8% in the third quarter. Intellectus Partners LLC now owns 27,704 shares of the specialty retailer’s stock valued at $2,940,000 after purchasing an additional 1,997 shares during the period. Finally, OneDigital Investment Advisors LLC increased its holdings in shares of Alibaba Group by 49.8% in the third quarter. OneDigital Investment Advisors LLC now owns 11,689 shares of the specialty retailer’s stock valued at $1,240,000 after purchasing an additional 3,885 shares during the period. 13.47% of the stock is 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.