Alibaba Group (NYSE:BABA) Shares Down 2.9% on Analyst Downgrade

Alibaba Group Holding Limited (NYSE:BABA) traded down 2.9% during trading on Tuesday after Truist Financial lowered their price target on the stock from $114.00 to $113.00. Truist Financial currently has a buy rating on the stock. Alibaba Group traded as low as $78.82 and last traded at $79.18. 6,768,658 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 17,808,041 shares. The stock had previously closed at $81.55.

A number of other analysts have also recently weighed in on the stock. StockNews.com raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Macquarie downgraded Alibaba Group from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $88.50 to $85.40 in a research report on Thursday, February 8th. Benchmark reissued a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research note on Wednesday, April 10th. Citigroup lowered their price objective on Alibaba Group from $126.00 to $124.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Finally, Mizuho reiterated a “buy” rating and set a $95.00 target price on shares of Alibaba Group in a research report on Wednesday, March 27th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.49.

Institutional Trading of Alibaba Group

Several large investors have recently made changes to their positions in the company. Princeton Global Asset Management LLC acquired a new stake in Alibaba Group in the third quarter valued at approximately $26,000. Baystate Wealth Management LLC grew its position in Alibaba Group by 184.6% in the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 216 shares during the period. First Command Advisory Services Inc. bought a new stake in Alibaba Group during the 3rd quarter valued at $30,000. Milestone Investment Advisors LLC bought a new position in shares of Alibaba Group in the third quarter valued at $31,000. Finally, EdgeRock Capital LLC bought a new position in shares of Alibaba Group in the fourth quarter valued at $26,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Down 1.1 %

The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $199.12 billion, a P/E ratio of 14.48 and a beta of 0.44. The firm’s 50-day moving average price is $73.60 and its 200 day moving average price is $75.11.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 EPS 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 company had revenue of $260.35 billion during the quarter, compared to analysts’ expectations of $260.26 billion. During the same period last year, the company earned $2.44 earnings per share. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts predict that Alibaba Group Holding Limited will post 7.54 earnings per share for the current year.

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.