Alibaba Group Holding Limited (NYSE:BABA – Get Free Report)’s share price was down 3.1% during trading on Tuesday after Susquehanna lowered their price target on the stock from $135.00 to $130.00. Susquehanna currently has a positive rating on the stock. Alibaba Group traded as low as $81.00 and last traded at $81.34. Approximately 5,572,317 shares traded hands during trading, a decline of 66% from the average daily volume of 16,629,635 shares. The stock had previously closed at $83.91.
Other research analysts have also recently issued reports about the company. Benchmark reissued a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Friday. Robert W. Baird boosted their price target on shares of Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America upped their price objective on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Loop Capital lifted their target price on shares of Alibaba Group from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Citigroup decreased their price target on Alibaba Group from $124.00 to $122.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.32.
Hedge Funds Weigh In On Alibaba Group
A number of hedge funds and other institutional investors have recently bought and sold shares of BABA. EP Wealth Advisors LLC boosted its holdings in Alibaba Group by 28.4% during the second quarter. EP Wealth Advisors LLC now owns 5,633 shares of the specialty retailer’s stock worth $406,000 after buying an additional 1,247 shares during the last quarter. Brandes Investment Partners LP increased its stake in Alibaba Group by 4.7% in the second quarter. Brandes Investment Partners LP now owns 711,054 shares of the specialty retailer’s stock valued at $51,341,000 after purchasing an additional 32,233 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of Alibaba Group by 6.0% during the second quarter. Sunbelt Securities Inc. now owns 13,464 shares of the specialty retailer’s stock worth $969,000 after purchasing an additional 767 shares in the last quarter. NewEdge Advisors LLC raised its stake in Alibaba Group by 12.8% during the 2nd quarter. NewEdge Advisors LLC now owns 52,363 shares of the specialty retailer’s stock worth $3,770,000 after buying an additional 5,924 shares during the period. Finally, Magnolia Capital Advisors LLC acquired a new position in Alibaba Group in the second quarter valued at about $1,357,000. 13.47% of the stock is owned by institutional investors.
Alibaba Group Stock Down 3.4 %
The company has a market capitalization of $205.61 billion, a P/E ratio of 18.89, a P/E/G ratio of 0.48 and a beta of 0.32. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $76.79 and a 200-day simple moving average of $76.14.
Alibaba Group (NYSE:BABA – Get Free Report) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. The business had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. Alibaba Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.47 EPS. On average, equities research analysts expect that Alibaba Group Holding Limited will post 6.96 EPS 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.