Alibaba Group (NYSE:BABA) Stock Price Down 1.5%

Alibaba Group Holding Limited (NYSE:BABA)’s share price dropped 1.5% during trading on Monday . The stock traded as low as $83.38 and last traded at $83.43. Approximately 4,727,354 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 16,326,252 shares. The stock had previously closed at $84.69.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BABA. Sanford C. Bernstein boosted their price target on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Truist Financial reduced their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Loop Capital reissued a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a report on Thursday, August 29th. Susquehanna decreased their target price on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. raised their price target on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Stock Down 1.5 %

The business’s 50-day moving average is $79.86 and its 200-day moving average is $77.21. The company has a market capitalization of $211.75 billion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 0.43 and a beta of 0.33. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last announced its quarterly 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. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. During the same period in the prior year, the firm posted $2.47 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts predict that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. First Command Advisory Services Inc. purchased a new stake in shares of Alibaba Group during the second quarter worth about $25,000. GPS Wealth Strategies Group LLC increased its stake in Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after buying an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Alibaba Group during the second quarter valued at approximately $27,000. Register Financial Advisors LLC acquired a new stake in shares of Alibaba Group in the first quarter worth approximately $31,000. Finally, Asset Dedication LLC increased its position in shares of Alibaba Group by 315.0% during the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 400 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

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.