Alibaba Group (NYSE:BABA) Stock Price Down 0.6% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s stock price fell 0.6% during mid-day trading on Wednesday . The stock traded as low as $97.68 and last traded at $99.23. 4,273,827 shares were traded during trading, a decline of 76% from the average session volume of 17,769,828 shares. The stock had previously closed at $99.83.

Analyst Ratings Changes

BABA has been the topic of a number of analyst reports. Robert W. Baird increased their price target on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Morgan Stanley restated an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a report on Friday, August 23rd. Sanford C. Bernstein upped their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, August 16th. Finally, Loop Capital reissued a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Two 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Alibaba Group Price Performance

The firm has a 50-day moving average of $95.38 and a 200-day moving average of $83.80. The stock has a market cap of $233.87 billion, a PE ratio of 25.62, a PEG ratio of 0.46 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 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 business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.47 EPS. Research analysts predict that Alibaba Group Holding Limited will post 8.08 EPS for the current year.

Institutional Investors Weigh In On Alibaba Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. ICA Group Wealth Management LLC raised its stake in Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after buying an additional 128 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in Alibaba Group by 4.3% in the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock valued at $361,000 after buying an additional 139 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Alibaba Group by 3.0% during the third quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock worth $515,000 after purchasing an additional 143 shares in the last quarter. Concord Wealth Partners increased its position in shares of Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares in the last quarter. Finally, EPIQ Capital Group LLC increased its position in shares of Alibaba Group by 0.3% during the second quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock worth $3,396,000 after purchasing an additional 157 shares in 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.