Alibaba Group (NYSE:BABA) Stock Price Down 0.9% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA) shares dropped 0.9% during trading on Wednesday . The stock traded as low as $84.77 and last traded at $84.87. Approximately 4,288,216 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 17,509,963 shares. The stock had previously closed at $85.68.

Analysts Set New Price Targets

BABA has been the topic of several research analyst reports. Truist Financial reduced their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. JPMorgan Chase & Co. lifted their price objective on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Bank of America lifted their price objective on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays reduced their price objective on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 19th. Finally, Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Stock Down 0.8 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market capitalization of $203.28 billion, a P/E ratio of 17.14, a P/E/G ratio of 0.42 and a beta of 0.30. The stock has a fifty day moving average price of $98.14 and a two-hundred day moving average price of $86.09.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. During the same period in the previous year, the business earned $1.82 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts forecast that Alibaba Group Holding Limited will post 8.44 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Garde Capital Inc. acquired a new position in Alibaba Group during the 3rd quarter worth $124,000. Inspire Trust Co. N.A. boosted its position in Alibaba Group by 25.0% during the 3rd quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the specialty retailer’s stock worth $2,122,000 after acquiring an additional 4,000 shares during the period. Synovus Financial Corp boosted its position in Alibaba Group by 9.5% during the 3rd quarter. Synovus Financial Corp now owns 5,533 shares of the specialty retailer’s stock worth $587,000 after acquiring an additional 481 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Alibaba Group during the 3rd quarter worth $89,000. Finally, World Investment Advisors LLC boosted its position in Alibaba Group by 17.0% during the 3rd quarter. World Investment Advisors LLC now owns 10,252 shares of the specialty retailer’s stock worth $1,088,000 after acquiring an additional 1,486 shares during the period. 13.47% of the stock is currently owned by institutional investors.

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.