Alibaba Group (NYSE:BABA) Issues Quarterly Earnings Results

Alibaba Group (NYSE:BABAGet Rating) posted its earnings results on Thursday. The specialty retailer reported $11.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $10.23, Briefing.com reports. The company had revenue of $205.56 billion during the quarter, compared to analysts’ expectations of $203.80 billion. Alibaba Group had a return on equity of 9.90% and a net margin of 3.69%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.16 earnings per share.

Alibaba Group Stock Down 5.0 %

NYSE BABA traded down $4.87 during trading on Friday, reaching $92.56. 27,206,134 shares of the company’s stock were exchanged, compared to its average volume of 27,974,394. The stock has a market cap of $245.11 billion, a P/E ratio of 51.42, a price-to-earnings-growth ratio of 1.64 and a beta of 0.58. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.66. The company has a 50 day moving average price of $105.41 and a two-hundred day moving average price of $104.62. Alibaba Group has a 1 year low of $73.28 and a 1 year high of $199.32.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BABA shares. Barclays cut their target price on Alibaba Group from $170.00 to $161.00 and set an “overweight” rating for the company in a research note on Friday, May 27th. Truist Financial raised their target price on Alibaba Group from $132.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, May 31st. Citigroup cut their target price on Alibaba Group from $176.00 to $172.00 and set a “buy” rating for the company in a research note on Tuesday, July 5th. Robert W. Baird dropped their price objective on Alibaba Group from $160.00 to $144.00 and set an “outperform” rating for the company in a research note on Monday, May 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Alibaba Group from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.83.

Institutional Trading of Alibaba Group

A number of institutional investors have recently bought and sold shares of BABA. Clearbridge Investments LLC lifted its holdings in shares of Alibaba Group by 6.9% in the 1st quarter. Clearbridge Investments LLC now owns 3,117,112 shares of the specialty retailer’s stock valued at $339,142,000 after purchasing an additional 202,226 shares during the last quarter. ING Groep NV purchased a new stake in shares of Alibaba Group in the 1st quarter valued at about $29,056,000. Capital International Investors lifted its holdings in shares of Alibaba Group by 1.3% in the 1st quarter. Capital International Investors now owns 204,535 shares of the specialty retailer’s stock valued at $22,377,000 after purchasing an additional 2,714 shares during the last quarter. First Republic Investment Management Inc. lifted its holdings in shares of Alibaba Group by 52.7% in the 1st quarter. First Republic Investment Management Inc. now owns 197,529 shares of the specialty retailer’s stock valued at $21,491,000 after purchasing an additional 68,150 shares during the last quarter. Finally, Schwerin Boyle Capital Management Inc. lifted its holdings in shares of Alibaba Group by 1.2% in the 1st quarter. Schwerin Boyle Capital Management Inc. now owns 190,625 shares of the specialty retailer’s stock valued at $20,740,000 after purchasing an additional 2,325 shares during the last quarter. 17.39% of the stock is owned by hedge funds and other institutional investors.

About Alibaba Group

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Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

Further Reading

Earnings History for Alibaba Group (NYSE:BABA)

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