Alibaba Group (NYSE:BABA) Stock Price Down 2.3% After Analyst Downgrade

Alibaba Group Holding Limited (NYSE:BABA)’s share price traded down 2.3% during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $137.00 to $130.00. Barclays currently has an overweight rating on the stock. Alibaba Group traded as low as $86.96 and last traded at $87.31. 4,777,933 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 17,615,330 shares. The stock had previously closed at $89.35.

BABA has been the topic of a number of other reports. Bank of America increased their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Susquehanna lowered their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Benchmark restated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday, November 15th. Mizuho increased their price target on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.07.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BABA. Concord Wealth Partners increased 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 valued at $27,000 after buying an additional 155 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Alibaba Group in the second quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new stake in Alibaba Group in the third quarter valued at approximately $36,000. First Command Advisory Services Inc. acquired a new stake in Alibaba Group in the second quarter valued at approximately $25,000. Finally, GPS Wealth Strategies Group LLC grew its stake in Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 209 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Stock Down 2.6 %

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $98.41 and a 200 day simple moving average of $85.81. The stock has a market cap of $208.48 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 0.39 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a return on equity of 12.23% and a net margin of 8.98%. The business had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. During the same period last year, the company posted $1.82 earnings per share. Alibaba Group’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts expect that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal year.

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.