Alibaba Group (NYSE:BABA) Shares Down 1.5%

Alibaba Group Holding Limited (NYSE:BABA)’s stock price dropped 1.5% on Monday . The stock traded as low as $83.38 and last traded at $83.43. Approximately 4,727,354 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 16,326,252 shares. The stock had previously closed at $84.69.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price objective on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Morgan Stanley restated an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a report on Friday, August 23rd. Truist Financial reduced their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Sanford C. Bernstein upped their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Stock Down 1.5 %

The company has a market cap of $211.75 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The business has a 50-day simple moving average of $79.86 and a 200-day simple moving average of $77.21.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The business had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $2.47 EPS. On average, equities analysts anticipate that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. ICA Group Wealth Management LLC grew its position in shares of Alibaba Group by 14.6% in the second 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 during the period. Bogart Wealth LLC raised its stake in Alibaba Group by 16.7% during the first quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 142 shares during the period. Legacy Advisors LLC boosted its holdings in shares of Alibaba Group by 1.4% in the 4th quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer’s stock valued at $826,000 after purchasing an additional 145 shares during the last quarter. North Star Investment Management Corp. grew its stake in shares of Alibaba Group by 11.2% during the 1st quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock valued at $111,000 after buying an additional 154 shares during the period. Finally, EPIQ Capital Group LLC increased its holdings in shares of Alibaba Group by 0.3% during the 2nd quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock worth $3,396,000 after buying an additional 157 shares during the last quarter. 13.47% of the stock is currently 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.