Alibaba Group (NYSE:BABA) Shares Gap Down to $85.41

Alibaba Group Holding Limited (NYSE:BABA)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $85.41, but opened at $81.89. Alibaba Group shares last traded at $81.15, with a volume of 6,870,957 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Benchmark restated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a report on Friday, August 16th. Susquehanna dropped their price target 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. Barclays reduced their price target on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Mizuho lowered their price objective on Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, Bank of America upped their target price on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Three research 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Stock Performance

The company has a market cap of $208.15 billion, a P/E ratio of 18.84, a P/E/G ratio of 0.48 and a beta of 0.32. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $77.29 and a two-hundred day simple moving average of $76.32.

Alibaba Group (NYSE:BABA) last announced its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The business had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.47 earnings per share. On average, sell-side analysts anticipate that Alibaba Group Holding Limited will post 6.96 EPS for the current year.

Institutional Investors Weigh In On Alibaba Group

Institutional investors and hedge funds have recently bought and sold shares of the business. First Command Advisory Services Inc. purchased a new position in shares of Alibaba Group in the second quarter worth $25,000. GPS Wealth Strategies Group LLC lifted its stake in Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 209 shares in the last quarter. EdgeRock Capital LLC bought a new position in shares of Alibaba Group during the 4th quarter valued at about $26,000. Register Financial Advisors LLC purchased a new position in shares of Alibaba Group during the first quarter valued at about $31,000. Finally, Asset Dedication LLC grew 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 valued at $38,000 after purchasing an additional 400 shares in the last quarter. 13.47% of the stock is owned by 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.