Alibaba Group (NYSE:BABA) Price Target Lowered to $113.00 at Truist Financial

Alibaba Group (NYSE:BABA) had its price target trimmed by Truist Financial from $114.00 to $113.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the specialty retailer’s stock.

A number of other equities research analysts have also issued reports on BABA. Citigroup dropped their price objective on shares of Alibaba Group from $126.00 to $124.00 and set a buy rating for the company in a report on Wednesday, April 10th. Barclays cut their price target on shares of Alibaba Group from $138.00 to $109.00 and set an overweight rating for the company in a report on Friday, January 12th. Mizuho reiterated a buy rating and issued a $95.00 price objective on shares of Alibaba Group in a report on Wednesday, March 27th. Morgan Stanley reissued an equal weight rating and set a $85.00 target price on shares of Alibaba Group in a research note on Tuesday, April 9th. Finally, Benchmark restated a buy rating and issued a $118.00 target price on shares of Alibaba Group in a research report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Alibaba Group presently has an average rating of Moderate Buy and an average price target of $112.49.

Alibaba Group Trading Down 2.7 %

Shares of Alibaba Group stock opened at $79.38 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.80 and a quick ratio of 1.80. The stock’s 50 day simple moving average is $73.60 and its 200-day simple moving average is $75.11. The stock has a market cap of $201.43 billion, a P/E ratio of 14.65 and a beta of 0.44. Alibaba Group has a 1-year low of $66.63 and a 1-year high of $102.50.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The company had revenue of $260.35 billion for the quarter, compared to analyst estimates of $260.26 billion. During the same period last year, the firm posted $2.44 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. Analysts predict that Alibaba Group will post 7.54 EPS for the current fiscal year.

Institutional Trading of Alibaba Group

Several hedge funds have recently made changes to their positions in the business. Princeton Global Asset Management LLC acquired a new stake in Alibaba Group during the 3rd quarter worth approximately $26,000. Baystate Wealth Management LLC raised its stake in shares of Alibaba Group by 184.6% in the fourth 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 in the last quarter. EdgeRock Capital LLC purchased a new position in Alibaba Group in the fourth quarter valued at $26,000. First Command Advisory Services Inc. acquired a new position in Alibaba Group during the 3rd quarter worth $30,000. Finally, Milestone Investment Advisors LLC purchased a new stake in Alibaba Group during the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

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.