Alibaba Group (NYSE:BABA) Stock Price Down 3.1% – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA)’s stock price dropped 3.1% on Wednesday . The stock traded as low as $105.62 and last traded at $106.28. Approximately 13,200,651 shares were traded during trading, a decline of 26% from the average daily volume of 17,773,078 shares. The stock had previously closed at $109.68.

Analyst Ratings Changes

BABA has been the subject of several research analyst reports. Robert W. Baird increased their target price on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a research report on Monday. JPMorgan Chase & Co. upped their price objective on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Susquehanna decreased their target price on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Finally, Truist Financial decreased their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus target price of $111.12.

Alibaba Group Trading Down 1.0 %

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The company has a fifty day moving average of $88.02 and a 200-day moving average of $80.45. The firm has a market capitalization of $275.42 billion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 0.46 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its quarterly 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 return on equity of 12.08% and a net margin of 7.31%. The company had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. During the same quarter in the prior year, the company posted $2.47 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Primecap Management Co. CA lifted its position in shares of Alibaba Group by 5.2% in the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after acquiring an additional 1,074,175 shares during the period. FIL Ltd increased its stake in shares of Alibaba Group by 10.2% in the fourth quarter. FIL Ltd now owns 10,630,701 shares of the specialty retailer’s stock valued at $823,986,000 after buying an additional 983,842 shares in the last quarter. H&H International Investment LLC raised its holdings in shares of Alibaba Group by 63.1% in the fourth quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock valued at $384,390,000 after buying an additional 1,918,730 shares during the last quarter. ARGA Investment Management LP lifted its position in Alibaba Group by 39.2% during the 1st quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer’s stock worth $259,194,000 after buying an additional 1,009,397 shares in the last quarter. Finally, Discerene Group LP grew its holdings in Alibaba Group by 21.2% during the 1st quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer’s stock worth $218,627,000 after acquiring an additional 529,237 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

About Alibaba Group

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.