Truist Financial Cuts Alibaba Group (NYSE:BABA) Price Target to $113.00

Alibaba Group (NYSE:BABA) had its target price lowered by analysts at Truist Financial from $114.00 to $113.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s price objective would suggest a potential upside of 38.54% from the stock’s current price.

Several other equities research analysts also recently weighed in on BABA. JPMorgan Chase & Co. cut their target price on shares of Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Macquarie cut Alibaba Group from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $88.50 to $85.40 in a research note on Thursday, February 8th. Morgan Stanley reissued an “equal weight” rating and set a $85.00 price objective on shares of Alibaba Group in a research report on Tuesday, April 9th. Susquehanna reduced their target price on shares of Alibaba Group from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Thursday, February 8th. Finally, Robert W. Baird dropped their price objective on shares of Alibaba Group from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average target price of $112.49.

Alibaba Group Stock Performance

Shares of BABA stock opened at $81.57 on Tuesday. Alibaba Group has a one year low of $66.63 and a one year high of $102.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.80 and a current ratio of 1.80. The firm’s 50 day moving average price is $73.57 and its 200-day moving average price is $75.11. The firm has a market cap of $206.97 billion, a P/E ratio of 15.05 and a beta of 0.44.

Alibaba Group (NYSE:BABA) last posted its earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $19.12 by ($0.15). The firm had revenue of $260.35 billion for the quarter, compared to analyst estimates of $260.26 billion. Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. Alibaba Group’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.44 EPS. As a group, equities research analysts predict that Alibaba Group will post 7.54 EPS for the current year.

Hedge Funds Weigh In On Alibaba Group

A number of institutional investors have recently modified their holdings of the business. Princeton Global Asset Management LLC acquired a new stake in Alibaba Group during the 3rd quarter worth approximately $26,000. Baystate Wealth Management LLC lifted its holdings in shares of Alibaba Group by 184.6% during the fourth quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 216 shares during the period. EdgeRock Capital LLC purchased a new position in Alibaba Group in the 4th quarter valued at $26,000. First Command Advisory Services Inc. acquired a new position in Alibaba Group in the 3rd quarter valued at $30,000. Finally, Milestone Investment Advisors LLC purchased a new position in Alibaba Group during the 3rd quarter worth $31,000. 13.47% of the stock is 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.