Alibaba Group (NYSE:BABA) Shares Down 0.7% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s share price dropped 0.7% on Tuesday . The company traded as low as $83.78 and last traded at $84.95. Approximately 4,477,077 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 10,057,971 shares. The stock had previously closed at $85.52.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Mizuho boosted their price objective on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. StockNews.com cut Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Barclays decreased their price objective on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. Robert W. Baird increased their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Bank of America boosted their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group Stock Performance

The stock’s fifty day simple moving average is $88.22 and its 200-day simple moving average is $87.34. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market capitalization of $199.55 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 0.44 and a beta of 0.30.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating the consensus estimate of $1.87 by $13.19. The company had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 EPS. As a group, equities analysts predict that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Diversified Trust Co purchased a new position in Alibaba Group in the fourth quarter valued at about $269,000. APEIRON CAPITAL Ltd acquired a new position in shares of Alibaba Group in the 4th quarter valued at about $1,475,000. CWA Asset Management Group LLC grew its holdings in shares of Alibaba Group by 20.9% during the fourth quarter. CWA Asset Management Group LLC now owns 35,584 shares of the specialty retailer’s stock valued at $3,017,000 after purchasing an additional 6,153 shares during the last quarter. Modus Advisors LLC acquired a new stake in Alibaba Group in the fourth quarter worth $82,000. Finally, Confluence Investment Management LLC grew its position in shares of Alibaba Group by 20.5% during the fourth quarter. Confluence Investment Management LLC now owns 2,425 shares of the specialty retailer’s stock worth $206,000 after acquiring an additional 412 shares during the last quarter. Hedge funds and other 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.