Alibaba Group (NYSE:BABA) Shares Down 0.2% – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA)’s share price dropped 0.2% during trading on Tuesday . The company traded as low as $85.66 and last traded at $85.75. Approximately 3,620,396 shares traded hands during trading, a decline of 79% from the average daily volume of 17,524,404 shares. The stock had previously closed at $85.95.

Analysts Set New Price Targets

BABA has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price target on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Loop Capital reissued a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a research report on Thursday, August 29th. 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 report on Monday, October 7th. JPMorgan Chase & Co. increased their target price on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, Truist Financial reduced their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group Price Performance

The company has a market cap of $203.21 billion, a P/E ratio of 17.23, a PEG ratio of 0.42 and a beta of 0.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The firm’s 50-day moving average is $97.93 and its two-hundred day moving average is $86.08.

Alibaba Group (NYSE:BABA) last released its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share 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 for the quarter, compared to the consensus estimate of $239.45 billion. During the same quarter in the previous year, the company posted $1.82 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts anticipate that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Hedge Funds Weigh In On Alibaba Group

A number of institutional investors have recently modified their holdings of the stock. TRUE Private Wealth Advisors lifted its position in 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 buying an additional 112 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in 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 grew its position 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 acquiring an additional 128 shares in the last quarter. Cornerstone Wealth Management LLC grew its position in 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. grew its position 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 valued at $515,000 after acquiring an additional 143 shares in 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.