Alibaba Group (NYSE:BABA) Stock Price Down 1.3% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s share price was down 1.3% during mid-day trading on Thursday . The stock traded as low as $90.01 and last traded at $90.79. Approximately 6,668,636 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 17,588,510 shares. The stock had previously closed at $92.00.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Sanford C. Bernstein upped their price target on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. increased their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Mizuho upped their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Morgan Stanley reissued an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and an average price target of $114.53.

Alibaba Group Stock Down 1.4 %

The business has a 50-day moving average price of $97.87 and a 200 day moving average price of $85.44. The stock has a market capitalization of $217.22 billion, a P/E ratio of 23.77, a P/E/G ratio of 0.41 and a beta of 0.35. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17.

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 the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion for 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 revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.47 earnings per share. On average, equities analysts expect that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

Institutional Trading of Alibaba Group

A number of hedge funds have recently bought and sold shares of BABA. First Command Advisory Services Inc. purchased a new stake in shares of Alibaba Group in the 2nd quarter valued at $25,000. GPS Wealth Strategies Group LLC boosted its holdings in Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after buying an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Alibaba Group in the second quarter worth approximately $27,000. Concord Wealth Partners lifted its stake in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares in the last quarter. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Alibaba Group in the third quarter valued at approximately $36,000. Hedge funds and other institutional investors 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.