Alibaba Group (NYSE:BABA) Stock Price Down 1.7% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s share price was down 1.7% during mid-day trading on Friday . The stock traded as low as $102.44 and last traded at $102.44. Approximately 16,237,952 shares changed hands during trading, a decline of 20% from the average daily volume of 20,413,650 shares. The stock had previously closed at $104.18.

Analysts Set New Price Targets

Several research firms have commented on BABA. JPMorgan Chase & Co. upped their price target on shares of Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Citigroup lowered their target price on Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley upgraded Alibaba Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $100.00 to $180.00 in a research report on Monday, February 24th. Benchmark upped their price objective on Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Barclays lifted their target price on shares of Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $150.36.

Alibaba Group Stock Performance

The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $126.59 and a two-hundred day moving average price of $104.64. The firm has a market cap of $256.26 billion, a PE ratio of 15.59, a P/E/G ratio of 0.61 and a beta of 0.24.

Alibaba Group (NYSE:BABA) last announced its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.07). The business had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. Research analysts forecast that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Institutional Trading of Alibaba Group

A number of hedge funds have recently bought and sold shares of BABA. Decker Retirement Planning Inc. purchased a new stake in shares of Alibaba Group in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC purchased a new stake in Alibaba Group in the 4th quarter valued at $32,000. Strategic Investment Solutions Inc. IL increased its stake in shares of Alibaba Group by 59.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer’s stock worth $46,000 after acquiring an additional 200 shares during the last quarter. Redwood Park Advisors LLC purchased a new position in shares of Alibaba Group during the 4th quarter worth $52,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Alibaba Group during the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

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.