Alibaba Group (NYSE:BABA) Trading Down 0.3%

Alibaba Group Holding Limited (NYSE:BABA)’s share price fell 0.3% on Wednesday . The stock traded as low as $84.28 and last traded at $84.43. 1,959,891 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 16,246,360 shares. The stock had previously closed at $84.70.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BABA. JPMorgan Chase & Co. lifted their target price on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Truist Financial reduced their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Robert W. Baird increased their price objective on shares of Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Loop Capital reaffirmed a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. Finally, Susquehanna lowered their price objective 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. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alibaba Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Trading Down 0.5 %

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 capitalization of $213.84 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. The firm’s 50 day moving average is $80.25 and its 200 day moving average is $77.35.

Alibaba Group (NYSE:BABA) last announced its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. The company had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.47 earnings per share. Equities analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Institutional Trading of Alibaba Group

Several large investors have recently added to or reduced their stakes in BABA. First Command Advisory Services Inc. acquired a new position in Alibaba Group during the second quarter valued at $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 valued at $26,000 after purchasing an additional 209 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Alibaba Group in the second quarter worth approximately $27,000. Register Financial Advisors LLC acquired a new stake in shares of Alibaba Group during the first quarter worth approximately $31,000. Finally, Asset Dedication LLC grew its position in 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 and hedge funds.

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.