Alibaba Group (NYSE:BABA) Shares Down 0.7% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s stock price traded down 0.7% on Thursday . The stock traded as low as $125.50 and last traded at $128.86. 15,771,811 shares were traded during mid-day trading, a decline of 19% from the average session volume of 19,421,783 shares. The stock had previously closed at $129.79.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BABA shares. Arete Research raised shares of Alibaba Group to a “strong-buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. increased their price target on Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Sanford C. Bernstein upgraded Alibaba Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $104.00 to $165.00 in a report on Tuesday, February 25th. Citigroup lifted their price target on Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Barclays boosted their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Fifteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $148.14.

Alibaba Group Stock Performance

The company has a market capitalization of $276.85 billion, a price-to-earnings ratio of 16.84, a P/E/G ratio of 0.61 and a beta of 0.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a 50-day simple moving average of $125.77 and a two-hundred day simple moving average of $103.96.

Alibaba Group (NYSE:BABA) last announced its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The business had revenue of $38.38 billion for the quarter, compared to analysts’ expectations of $38.19 billion. On average, sell-side analysts anticipate 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. Marcum Wealth LLC raised its holdings in Alibaba Group by 3.2% in the first quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer’s stock valued at $363,000 after acquiring an additional 86 shares in the last quarter. Fairtree Asset Management Pty Ltd purchased a new stake in shares of Alibaba Group in the 4th quarter valued at approximately $4,881,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Alibaba Group in the 4th quarter valued at $289,000. Lighthouse Financial LLC purchased a new stake in shares of Alibaba Group during the 4th quarter worth $237,000. Finally, Fluent Financial LLC grew its stake in shares of Alibaba Group by 22.6% during the fourth quarter. Fluent Financial LLC now owns 10,627 shares of the specialty retailer’s stock worth $901,000 after purchasing an additional 1,957 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

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.