Alibaba Group (NYSE:BABA) Shares Down 2.1% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s share price was down 2.1% during trading on Friday . The stock traded as low as $99.73 and last traded at $100.55. Approximately 12,681,319 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 18,824,598 shares. The stock had previously closed at $102.74.

Analyst Ratings Changes

Several brokerages recently issued reports on BABA. Bank of America boosted their price target on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Mizuho upped their target price on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Citigroup upped their target price on Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Robert W. Baird upped their target price on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.13.

Alibaba Group Price Performance

The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $86.27 and a two-hundred day moving average price of $88.62. The company has a market capitalization of $235.52 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 0.41 and a beta of 0.30.

Alibaba Group (NYSE:BABA) last issued its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The company had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. During the same period in the prior year, the firm earned $1.82 earnings per share. Alibaba Group’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts anticipate that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BABA. Strategic Investment Solutions Inc. IL bought a new position in shares of Alibaba Group during the 2nd quarter worth $27,000. Concord Wealth Partners grew its stake 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 period. Decker Retirement Planning Inc. purchased a new stake in Alibaba Group during the 4th quarter worth about $31,000. Sierra Ocean LLC purchased a new stake in Alibaba Group during the 4th quarter worth about $32,000. Finally, Highline Wealth Partners LLC purchased a new stake in Alibaba Group during the 3rd quarter worth about $36,000. Institutional investors 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.