Alibaba Group (NYSE:BABA) Shares Down 0.1% – What’s Next?

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded down 0.1% during trading on Wednesday . The stock traded as low as $91.47 and last traded at $91.71. 4,049,221 shares changed hands during trading, a decline of 77% from the average session volume of 17,598,031 shares. The stock had previously closed at $91.78.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BABA shares. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a research note on Monday, October 7th. Bank of America upped their price target 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. Benchmark reiterated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Friday, August 16th. Sanford C. Bernstein upped their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, August 16th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and an average target price of $114.53.

Alibaba Group Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The business’s 50 day moving average price is $97.68 and its 200-day moving average price is $85.39. The firm has a market capitalization of $220.41 billion, a PE ratio of 24.05, a P/E/G ratio of 0.41 and a beta of 0.35.

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, beating analysts’ consensus estimates of $1.87 by $14.57. The business 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 company’s revenue 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. As a group, equities research analysts forecast that Alibaba Group Holding Limited will post 8.51 earnings per share for the current year.

Institutional Investors Weigh In On Alibaba Group

Large investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co lifted its stake in Alibaba Group by 462.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after purchasing an additional 139,134 shares during the last quarter. Generate Investment Management Ltd purchased a new position in shares of Alibaba Group during the third quarter worth about $12,656,000. SRN Advisors LLC lifted its holdings in shares of Alibaba Group by 76.7% in the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after purchasing an additional 9,663 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its stake in Alibaba Group by 63.9% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock worth $3,047,000 after buying an additional 11,192 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in Alibaba Group by 6.5% during the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock worth $87,327,000 after buying an additional 50,000 shares during the period. 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.