Alibaba Group (NYSE:BABA) Shares Down 2.4% – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA)’s share price traded down 2.4% during mid-day trading on Friday . The company traded as low as $81.70 and last traded at $82.31. 7,980,854 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 17,350,818 shares. The stock had previously closed at $84.31.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Benchmark reissued a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Friday, November 15th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a research note on Monday, October 7th. Mizuho upped their price objective on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Loop Capital reiterated a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a report on Thursday, August 29th. Finally, Barclays lowered their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.07.

Alibaba Group Trading Down 2.4 %

The company has a market capitalization of $196.63 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 0.44 and a beta of 0.30. The business’s 50 day simple moving average is $92.23 and its 200 day simple moving average is $86.56. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37.

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

Hedge Funds Weigh In On Alibaba Group

Institutional investors have recently bought and sold shares of the company. TRUE Private Wealth Advisors boosted its holdings in shares of Alibaba Group by 3.7% in the third quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock valued at $331,000 after acquiring an additional 112 shares in the last quarter. Venturi Wealth Management LLC lifted its position in Alibaba Group by 6.0% in the third quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock valued at $228,000 after purchasing an additional 121 shares during the period. ICA Group Wealth Management LLC boosted its holdings in Alibaba Group by 14.6% in the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 128 shares in the last quarter. Cornerstone Wealth Management LLC increased its position in Alibaba Group by 4.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock worth $361,000 after purchasing an additional 139 shares during the period. Finally, First Trust Direct Indexing L.P. raised its stake in shares of Alibaba Group by 3.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock worth $515,000 after buying an additional 143 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

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.