Alibaba Group (NYSE:BABA) Stock Price Down 1.4%

Shares of Alibaba Group Holding Limited (NYSE:BABA) dropped 1.4% during trading on Wednesday . The stock traded as low as $69.29 and last traded at $69.61. Approximately 17,478,883 shares changed hands during trading, an increase of 37% from the average daily volume of 12,781,803 shares. The stock had previously closed at $70.62.

Analyst Ratings Changes

BABA has been the subject of several analyst reports. Robert W. Baird cut their price target on shares of Alibaba Group from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Benchmark restated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a report on Wednesday, April 10th. Susquehanna decreased their price target on Alibaba Group from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Thursday, February 8th. Morgan Stanley reissued an “equal weight” rating and set a $85.00 price objective on shares of Alibaba Group in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $112.91.

Alibaba Group Stock Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.80 and a current ratio of 1.80. The firm has a market capitalization of $176.64 billion, a P/E ratio of 12.84 and a beta of 0.46. The company has a 50-day simple moving average of $73.33 and a two-hundred day simple moving average of $76.10.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The business had revenue of $260.35 billion for the quarter, compared to analysts’ expectations of $260.26 billion. During the same period last year, the business earned $2.44 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. As a group, equities analysts forecast that Alibaba Group Holding Limited will post 7.97 EPS for the current year.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors have recently modified their holdings of the stock. Princeton Global Asset Management LLC purchased a new stake in Alibaba Group during the 3rd quarter valued at $26,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Alibaba Group in the 3rd quarter worth about $27,000. GPS Wealth Strategies Group LLC lifted its stake in Alibaba Group by 116.7% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 175 shares during the period. Baystate Wealth Management LLC boosted its holdings in shares of Alibaba Group by 184.6% during the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 216 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new stake in shares of Alibaba Group in the third quarter worth approximately $30,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

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.