Alibaba Group (NYSE:BABA) Trading Down 0.1% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s share price fell 0.1% during mid-day trading on Friday . The company traded as low as $97.50 and last traded at $97.86. 2,905,448 shares traded hands during trading, a decline of 84% from the average session volume of 17,683,277 shares. The stock had previously closed at $97.98.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BABA shares. Sanford C. Bernstein upped their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. Truist Financial dropped their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Bank of America increased their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays increased their target price on shares of Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, Robert W. Baird increased their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Alibaba Group Trading Up 0.1 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The company’s fifty day simple moving average is $95.38 and its 200-day simple moving average is $83.80. The company has a market capitalization of $234.97 billion, a P/E ratio of 25.62, a PEG ratio of 0.46 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same period in the prior year, the business earned $2.47 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. Research analysts predict that Alibaba Group Holding Limited will post 8.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BABA. Concord Wealth Partners lifted its position in shares of Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 155 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Alibaba Group during the second quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Alibaba Group during the third quarter valued at about $36,000. First Command Advisory Services Inc. purchased a new stake in shares of Alibaba Group during the second quarter valued at about $25,000. Finally, GPS Wealth Strategies Group LLC lifted its position in shares of Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 209 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

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.