Barclays Lowers Alibaba Group (NYSE:BABA) Price Target to $247.00

Alibaba Group (NYSE:BABA) had its price target decreased by Barclays from $252.00 to $247.00 in a report released on Wednesday, The Fly reports. Barclays currently has an overweight rating on the specialty retailer’s stock.

BABA has been the topic of several other research reports. Argus downgraded shares of Alibaba Group from a buy rating to a hold rating and set a $216.20 target price on the stock. in a report on Wednesday, November 24th. Morgan Stanley lowered their target price on shares of Alibaba Group from $220.00 to $180.00 and set an overweight rating on the stock in a report on Friday, November 19th. They noted that the move was a valuation call. Macquarie began coverage on shares of Alibaba Group in a report on Tuesday, December 7th. They set an outperform rating and a $162.00 price objective on the stock. Bank of America decreased their price objective on shares of Alibaba Group from $254.00 to $209.00 and set a buy rating on the stock in a report on Friday, November 19th. Finally, Truist decreased their price objective on shares of Alibaba Group from $230.00 to $200.00 and set a buy rating on the stock in a report on Friday, November 19th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $224.80.

Shares of Alibaba Group stock opened at $131.57 on Wednesday. Alibaba Group has a 1 year low of $108.70 and a 1 year high of $274.29. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.65 and a current ratio of 1.64. The company has a market capitalization of $356.67 billion, a P/E ratio of 18.88, a PEG ratio of 1.29 and a beta of 0.90. The company’s fifty day moving average is $131.75 and its two-hundred day moving average is $162.10.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, November 18th. The specialty retailer reported $11.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $9.74. The company had revenue of $200.69 billion for the quarter, compared to the consensus estimate of $204.97 billion. Alibaba Group had a net margin of 15.27% and a return on equity of 12.32%. Alibaba Group’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period last year, the firm posted $1.32 EPS. As a group, equities analysts expect that Alibaba Group will post 6.58 earnings per share for the current year.

Hedge funds have recently modified their holdings of the stock. Camden National Bank increased its position in Alibaba Group by 56.8% during the fourth quarter. Camden National Bank now owns 27,238 shares of the specialty retailer’s stock worth $6,339,000 after purchasing an additional 9,866 shares during the last quarter. Bank of Montreal Can grew its stake in Alibaba Group by 9.5% during the second quarter. Bank of Montreal Can now owns 2,731,545 shares of the specialty retailer’s stock worth $811,269,000 after buying an additional 236,236 shares during the period. Formula Growth Ltd. grew its stake in Alibaba Group by 78.8% during the second quarter. Formula Growth Ltd. now owns 111,149 shares of the specialty retailer’s stock worth $25,206,000 after buying an additional 48,985 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Alibaba Group during the third quarter worth approximately $4,520,000. Finally, Crescent Park Management L.P. grew its stake in Alibaba Group by 2.6% during the second quarter. Crescent Park Management L.P. now owns 154,122 shares of the specialty retailer’s stock worth $34,952,000 after buying an additional 3,869 shares during the period. 21.27% of the stock is owned by hedge funds and other institutional investors.

About Alibaba Group

Alibaba Group Holding Ltd. engages in providing online and mobile marketplaces in retail and wholesale trade. It operates through the following business segments: Core Commerce; Cloud Computing; Digital Media & Entertainment; and Innovation Initiatives and Others. The Core Commerce segment comprises of platforms operating in retail and wholesale.

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