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

Alibaba Group Holding Limited (NYSE:BABA)’s share price dropped 1.7% on Monday . The company traded as low as $165.58 and last traded at $167.60. Approximately 9,604,402 shares traded hands during trading, a decline of 54% from the average daily volume of 21,067,637 shares. The stock had previously closed at $170.43.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BABA. Mizuho set a $195.00 price target on shares of Alibaba Group in a research report on Wednesday, October 22nd. UBS Group reaffirmed a “buy” rating and issued a $162.00 target price on shares of Alibaba Group in a report on Sunday, August 31st. Barclays boosted their price target on Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, September 8th. Jefferies Financial Group raised their price objective on Alibaba Group from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Finally, Nomura boosted their target price on Alibaba Group from $170.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and an average price target of $190.18.

Alibaba Group Price Performance

The firm has a market cap of $399.90 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 2.40 and a beta of 0.18. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The business’s 50-day simple moving average is $161.36 and its two-hundred day simple moving average is $133.46.

Hedge Funds Weigh In On Alibaba Group

Several hedge funds and other institutional investors have recently bought and sold shares of BABA. Mather Group LLC. bought a new position in shares of Alibaba Group in the 3rd quarter worth about $30,000. NBT Bank N A NY increased its holdings in Alibaba Group by 231.5% in the third quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 125 shares in the last quarter. 1248 Management LLC acquired a new position in Alibaba Group in the first quarter valued at approximately $26,000. North Ridge Wealth Advisors Inc. acquired a new position in Alibaba Group in the first quarter valued at approximately $26,000. Finally, Summit Securities Group LLC boosted its holdings in shares of Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after buying an additional 59,000 shares in the last quarter. Institutional investors and hedge funds 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.