Alibaba Group (NYSE:BABA) Shares Down 2.9% Following Analyst Downgrade

Alibaba Group Holding Limited (NYSE:BABA) shares traded down 2.9% during trading on Tuesday after Truist Financial lowered their price target on the stock from $114.00 to $113.00. Truist Financial currently has a buy rating on the stock. Alibaba Group traded as low as $78.82 and last traded at $79.18. 6,768,658 shares changed hands during trading, a decline of 62% from the average session volume of 17,808,041 shares. The stock had previously closed at $81.55.

A number of other research analysts also recently issued reports on BABA. Morgan Stanley reiterated an “equal weight” rating and issued a $85.00 price target on shares of Alibaba Group in a research note on Tuesday, April 9th. Robert W. Baird dropped their target price on Alibaba Group from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. Benchmark reaffirmed a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a report on Wednesday, April 10th. The Goldman Sachs Group dropped their price objective on Alibaba Group from $121.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Finally, Susquehanna decreased their target price on Alibaba Group from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average price target of $112.49.

Institutional Trading of Alibaba Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Princeton Global Asset Management LLC acquired a new stake in shares of Alibaba Group during the 3rd quarter valued at approximately $26,000. Baystate Wealth Management LLC raised its holdings in Alibaba Group by 184.6% during the fourth quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 216 shares during the last quarter. First Command Advisory Services Inc. purchased a new stake in Alibaba Group during the third quarter worth $30,000. Milestone Investment Advisors LLC acquired a new stake in Alibaba Group in the third quarter valued at $31,000. Finally, EdgeRock Capital LLC purchased a new position in shares of Alibaba Group in the fourth quarter valued at $26,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 2.7 %

The firm has a market cap of $201.43 billion, a price-to-earnings ratio of 14.65 and a beta of 0.44. The firm has a 50 day moving average price of $73.60 and a 200-day moving average price of $75.11. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.12.

Alibaba Group (NYSE:BABA) last issued 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 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 for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts forecast that Alibaba Group Holding Limited will post 7.54 EPS for the current year.

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.