Alibaba Group (NYSE:BABA) Price Target Cut to $113.00 by Analysts at Truist Financial

Alibaba Group (NYSE:BABA) had its target price lowered by Truist Financial from $114.00 to $113.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the specialty retailer’s stock.

A number of other brokerages also recently issued reports on BABA. Morgan Stanley reaffirmed an equal weight rating and set a $85.00 price target on shares of Alibaba Group in a report on Tuesday, April 9th. The Goldman Sachs Group cut their target price on shares of Alibaba Group from $121.00 to $105.00 and set a buy rating for the company in a research report on Thursday, February 8th. Robert W. Baird lowered their price target on Alibaba Group from $95.00 to $90.00 and set an outperform rating on the stock in a report on Friday, January 19th. Macquarie lowered Alibaba Group from an outperform rating to a neutral rating and cut their price objective for the stock from $88.50 to $85.40 in a report on Thursday, February 8th. Finally, Benchmark reissued a buy rating and issued a $118.00 target price on shares of Alibaba Group in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $112.49.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $79.38 on Tuesday. The company has a 50 day moving average of $73.60 and a 200 day moving average of $75.11. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12. Alibaba Group has a twelve month low of $66.63 and a twelve month high of $102.50. The firm has a market cap of $201.43 billion, a P/E ratio of 14.65 and a beta of 0.44.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share for the quarter, missing the consensus estimate of $19.12 by ($0.15). Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The business had revenue of $260.35 billion during the quarter, compared to analysts’ expectations of $260.26 billion. During the same quarter in the prior year, the firm earned $2.44 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts expect that Alibaba Group will post 7.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. raised its stake in Alibaba Group by 12.8% during the 1st quarter. QRG Capital Management Inc. now owns 34,991 shares of the specialty retailer’s stock valued at $2,532,000 after purchasing an additional 3,976 shares during the period. Arnhold LLC grew its holdings in Alibaba Group by 13.2% during the 1st quarter. Arnhold LLC now owns 209,880 shares of the specialty retailer’s stock valued at $15,187,000 after buying an additional 24,435 shares in the last quarter. NorthRock Partners LLC purchased a new stake in Alibaba Group during the 1st quarter valued at approximately $207,000. WNY Asset Management LLC raised its position in shares of Alibaba Group by 2.8% during the first quarter. WNY Asset Management LLC now owns 6,022 shares of the specialty retailer’s stock valued at $436,000 after buying an additional 164 shares during the last quarter. Finally, Chilton Capital Management LLC purchased a new position in shares of Alibaba Group in the first quarter worth $190,000. Hedge funds and other institutional investors 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.