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

Alibaba Group Holding Limited (NYSE:BABA)’s share price dropped 1.3% on Thursday . The stock traded as low as $84.96 and last traded at $85.29. Approximately 3,221,703 shares traded hands during trading, a decline of 72% from the average daily volume of 11,620,654 shares. The stock had previously closed at $86.40.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BABA shares. StockNews.com cut Alibaba Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 14th. Robert W. Baird boosted their target price on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Friday, November 15th. Bank of America boosted their price target 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, Mizuho boosted their price objective on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.13.

Alibaba Group Price Performance

The firm has a market cap of $204.46 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 0.45 and a beta of 0.30. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $85.62 and a 200 day moving average of $88.00.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating the consensus estimate of $1.87 by $13.19. The company had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. Alibaba Group’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.82 EPS. Equities research analysts predict that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

Hedge funds have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL bought a new position in Alibaba Group in the second quarter valued at approximately $27,000. Concord Wealth Partners grew its stake in shares of Alibaba Group by 155.0% in 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. Decker Retirement Planning Inc. bought a new stake in shares of Alibaba Group in the fourth quarter worth $31,000. Highline Wealth Partners LLC acquired a new position in Alibaba Group in the third quarter valued at $36,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Alibaba Group in the second quarter valued at $38,000. 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.