Alibaba Group (NYSE:BABA) Stock Price Down 0.6% – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA)’s share price dropped 0.6% on Monday . The company traded as low as $87.95 and last traded at $88.02. Approximately 4,484,223 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 17,636,059 shares. The stock had previously closed at $88.59.

Wall Street Analyst Weigh In

BABA has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Benchmark reaffirmed a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Friday, November 15th. Susquehanna reduced their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a report on Monday, October 7th. Finally, StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Stock Performance

The firm’s 50-day moving average price is $98.41 and its two-hundred day moving average price is $85.81. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $208.48 billion, a PE ratio of 17.66, a P/E/G ratio of 0.39 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $13.19. The company had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.23%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.82 EPS. As a group, research analysts predict that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

Institutional Trading of Alibaba Group

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