Alibaba Group (NYSE:BABA) Stock Price Down 0.2% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s share price dropped 0.2% during mid-day trading on Monday . The stock traded as low as $133.63 and last traded at $134.91. Approximately 6,650,302 shares changed hands during trading, a decline of 65% from the average daily volume of 19,010,204 shares. The stock had previously closed at $135.14.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BABA. JPMorgan Chase & Co. boosted their price target on Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Barclays lifted their price target on Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Bank of America boosted their target price on Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Sanford C. Bernstein raised shares of Alibaba Group from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $104.00 to $165.00 in a research note on Tuesday, February 25th. Finally, Citigroup boosted their price target on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $144.07.

Alibaba Group Stock Down 0.4 %

The firm has a market cap of $319.70 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28. The firm’s 50-day moving average price is $116.49 and its 200 day moving average price is $100.91. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing the consensus estimate of $2.84 by ($0.07). The firm had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. As a group, research analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Hedge Funds Weigh In On Alibaba Group

Several institutional investors and hedge funds have recently modified their holdings of BABA. Rings Capital Management LLC lifted its stake in shares of Alibaba Group by 1.4% in the fourth quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer’s stock worth $602,000 after buying an additional 100 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Alibaba Group by 3.7% during the fourth quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer’s stock worth $240,000 after purchasing an additional 101 shares during the period. Global Endowment Management LP grew its position in Alibaba Group by 1.4% in the fourth quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer’s stock valued at $642,000 after acquiring an additional 106 shares during the period. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Alibaba Group by 3.6% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer’s stock worth $266,000 after purchasing an additional 108 shares during the last quarter. Finally, TRUE Private Wealth Advisors increased its holdings in shares of Alibaba Group by 3.7% during the third quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock worth $331,000 after buying an additional 112 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.