Alibaba Group (NYSE:BABA) Stock Price Down 1.8% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA) shares were down 1.8% during trading on Wednesday . The company traded as low as $88.00 and last traded at $88.19. Approximately 3,111,079 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 17,495,900 shares. The stock had previously closed at $89.83.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BABA shares. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a report on Monday, October 7th. JPMorgan Chase & Co. boosted their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Benchmark reissued a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research report on Friday, November 15th. Loop Capital reissued a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a research note on Thursday, August 29th. Finally, StockNews.com raised shares of Alibaba Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group Stock Performance

The company has a market capitalization of $209.87 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 0.44 and a beta of 0.30. The stock’s 50 day moving average price is $95.36 and its 200 day moving average price is $86.25. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $13.19. The firm had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.82 earnings per share. Analysts expect that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Institutional Investors Weigh In On Alibaba Group

Hedge funds have recently added to or reduced their stakes in the business. Generate Investment Management Ltd bought a new stake in shares of Alibaba Group during the 3rd quarter worth about $12,656,000. Nations Financial Group Inc. IA ADV grew its position in shares of Alibaba Group by 63.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock valued at $3,047,000 after purchasing an additional 11,192 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of Alibaba Group by 6.5% during the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock worth $87,327,000 after purchasing an additional 50,000 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Alibaba Group by 7,734.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock valued at $28,632,000 after purchasing an additional 266,361 shares during the period. Finally, Aspex Management HK Ltd acquired a new position in Alibaba Group in the 3rd quarter valued at $115,995,000. Institutional investors and hedge funds 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.