Alibaba Group (NYSE:BABA) Shares Gap Down – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA) gapped down prior to trading on Wednesday . The stock had previously closed at $109.68, but opened at $105.80. Alibaba Group shares last traded at $107.25, with a volume of 10,373,318 shares.

Analyst Ratings Changes

BABA has been the topic of a number of recent analyst reports. Bank of America increased their price target on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Susquehanna lowered their price objective on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Sanford C. Bernstein upped their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus target price of $111.12.

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 stock has a market cap of $276.94 billion, a PE ratio of 24.77, a PEG ratio of 0.46 and a beta of 0.35. The stock’s fifty day moving average price is $88.02 and its 200 day moving average price is $80.45.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping the consensus estimate of $1.87 by $14.57. The firm had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.47 EPS. On average, sell-side analysts forecast that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Institutional Investors Weigh In On Alibaba Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL bought a new position in shares of Alibaba Group during the 2nd quarter valued at approximately $27,000. First Command Advisory Services Inc. purchased a new position in shares of Alibaba Group in the 2nd quarter worth $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. Register Financial Advisors LLC purchased a new stake in shares of Alibaba Group during the 1st quarter valued at about $31,000. Finally, Asset Dedication LLC lifted its holdings in shares of Alibaba Group by 315.0% in the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

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.