Alibaba Group (NYSE:BABA) Stock Price Down 1.3% – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA)’s stock price was down 1.3% during mid-day trading on Wednesday . The stock traded as low as $82.72 and last traded at $83.42. Approximately 4,167,734 shares changed hands during trading, a decline of 59% from the average daily volume of 10,247,902 shares. The stock had previously closed at $84.48.

Analyst Upgrades and Downgrades

BABA has been the topic of a number of research reports. Barclays reduced their price objective on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a report on Monday, October 7th. StockNews.com cut shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Bank of America raised their price objective on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Stock Down 1.0 %

The company has a market cap of $199.21 billion, a P/E ratio of 16.96, a PEG ratio of 0.44 and a beta of 0.30. The stock’s 50-day moving average price is $88.51 and its 200-day moving average price is $87.36. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $239.45 billion. During the same quarter last year, the firm posted $1.82 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts forecast that Alibaba Group Holding Limited will post 8.44 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. TRUE Private Wealth Advisors increased its holdings in Alibaba Group by 3.7% during the 3rd quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock worth $331,000 after purchasing an additional 112 shares in the last quarter. Venturi Wealth Management LLC raised its position in Alibaba Group by 6.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock valued at $228,000 after buying an additional 121 shares during the last quarter. ICA Group Wealth Management LLC lifted its stake in 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 in the last quarter. Cornerstone Wealth Management LLC boosted its holdings 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 acquiring an additional 139 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in shares of 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 acquiring an additional 143 shares in 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.