Alibaba Group (NYSE:BABA) Stock Price Down 2.3% Following Analyst Downgrade

Alibaba Group Holding Limited (NYSE:BABA) dropped 2.3% during trading on Tuesday after Barclays lowered their price target on the stock from $137.00 to $130.00. Barclays currently has an overweight rating on the stock. Alibaba Group traded as low as $86.96 and last traded at $87.31. Approximately 4,777,933 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 17,615,330 shares. The stock had previously closed at $89.35.

Several other research analysts also recently commented on BABA. Susquehanna reduced their target price on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Truist Financial cut their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Mizuho boosted their price objective on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Jefferies Financial Group restated a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Finally, StockNews.com cut Alibaba Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and an average price target of $114.07.

Hedge Funds Weigh In On Alibaba Group

A number of institutional investors have recently added to or reduced their stakes in the business. First Command Advisory Services Inc. bought a new position in shares of Alibaba Group in the second quarter worth approximately $25,000. GPS Wealth Strategies Group LLC increased its holdings in shares of 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 buying an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Alibaba Group during the 2nd quarter valued at $27,000. Concord Wealth Partners lifted its holdings in shares of Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 155 shares during the last quarter. Finally, Highline Wealth Partners LLC bought a new position in Alibaba Group in the third quarter valued at $36,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Down 2.4 %

The stock has a 50-day simple moving average of $98.34 and a two-hundred day simple moving average of $85.77. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm has a market cap of $208.84 billion, a PE ratio of 17.70, a P/E/G ratio of 0.39 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last issued its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $13.19. The business had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a return on equity of 12.23% and a net margin of 8.98%. Alibaba Group’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 earnings per share. Analysts expect that Alibaba Group Holding Limited will post 8.51 earnings per share for the current year.

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.