Alibaba Group (NYSE:BABA) Stock Price Down 0.9% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s stock price was down 0.9% on Thursday . The stock traded as low as $82.72 and last traded at $83.74. Approximately 9,643,066 shares changed hands during trading, a decline of 15% from the average daily volume of 11,401,514 shares. The stock had previously closed at $84.48.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BABA shares. Mizuho boosted their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Benchmark reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a report on Friday, November 15th. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a report on Monday, October 7th. Barclays dropped their price objective on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. Finally, StockNews.com downgraded shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group Price Performance

The stock’s 50-day moving average price is $88.22 and its 200 day moving average price is $87.34. The firm has a market capitalization of $199.55 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.44 and a beta of 0.30. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last issued its earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The business had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.82 earnings per share. Equities research analysts expect that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

Several hedge funds and other institutional investors have recently bought and sold shares of BABA. Strategic Investment Solutions Inc. IL acquired a new stake in Alibaba Group during the second quarter worth about $27,000. Concord Wealth Partners increased its position in Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in Alibaba Group during the third quarter worth about $36,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Alibaba Group during the second quarter worth about $38,000. Finally, Assetmark Inc. boosted its stake in Alibaba Group by 225.4% during the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after buying an additional 275 shares during the period. 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.