Truist Financial Lowers Alibaba Group (NYSE:BABA) Price Target to $113.00

Alibaba Group (NYSE:BABA) had its price target dropped by analysts at Truist Financial from $114.00 to $113.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s price target suggests a potential upside of 44.00% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the company. Citigroup reduced their target price on Alibaba Group from $126.00 to $124.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Susquehanna reduced their target price on Alibaba Group from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Thursday, February 8th. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Mizuho reiterated a “buy” rating and issued a $95.00 target price on shares of Alibaba Group in a report on Wednesday, March 27th. Finally, The Goldman Sachs Group reduced their target price on Alibaba Group from $121.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and a consensus target price of $112.49.

Alibaba Group Price Performance

BABA stock opened at $78.47 on Tuesday. Alibaba Group has a 52-week low of $66.63 and a 52-week high of $102.50. The stock’s fifty day simple moving average is $73.60 and its 200-day simple moving average is $75.11. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $199.12 billion, a price-to-earnings ratio of 14.48 and a beta of 0.44.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $19.12 by ($0.15). Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The business had revenue of $260.35 billion for the quarter, compared to analyst estimates of $260.26 billion. During the same quarter last year, the business earned $2.44 EPS. Alibaba Group’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts expect that Alibaba Group will post 7.54 EPS for the current year.

Institutional Trading of Alibaba Group

A number of hedge funds and other institutional investors have recently modified their holdings of BABA. Bank of New York Mellon Corp increased its position in shares of Alibaba Group by 3.0% during the third quarter. Bank of New York Mellon Corp now owns 564,181 shares of the specialty retailer’s stock worth $48,937,000 after acquiring an additional 16,625 shares during the last quarter. Brown Advisory Inc. increased its holdings in Alibaba Group by 29.9% in the third quarter. Brown Advisory Inc. now owns 23,308 shares of the specialty retailer’s stock valued at $2,022,000 after buying an additional 5,361 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Alibaba Group by 28.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 533,998 shares of the specialty retailer’s stock valued at $46,311,000 after buying an additional 116,898 shares during the last quarter. Advisor Partners II LLC increased its holdings in Alibaba Group by 12.6% in the third quarter. Advisor Partners II LLC now owns 23,125 shares of the specialty retailer’s stock valued at $2,006,000 after buying an additional 2,585 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new stake in Alibaba Group in the third quarter valued at about $1,045,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

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.