Alibaba Group (NYSE:BABA) Shares Down 0.1% – What’s Next?

Shares of Alibaba Group Holding Limited (NYSE:BABA) dropped 0.1% on Friday . The stock traded as low as $107.22 and last traded at $109.22. Approximately 6,704,187 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 17,800,383 shares. The stock had previously closed at $109.28.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein raised their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, August 16th. Bank of America raised their target price on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a research note on Monday, October 7th. Benchmark restated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Friday, August 16th. Finally, Susquehanna cut their target price 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. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $110.75.

Alibaba Group Stock Performance

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock’s 50-day moving average price is $89.88 and its 200-day moving average price is $81.18. The company has a market capitalization of $279.48 billion, a P/E ratio of 25.67, a P/E/G ratio of 0.55 and a beta of 0.35.

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

Hedge Funds Weigh In On Alibaba Group

Several institutional investors have recently modified their holdings of the company. First Command Advisory Services Inc. acquired a new position in Alibaba Group during the 2nd quarter valued at about $25,000. GPS Wealth Strategies Group LLC boosted its position in shares of Alibaba Group by 139.3% during the second 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 period. Strategic Investment Solutions Inc. IL bought a new position in Alibaba Group in the 2nd quarter worth approximately $27,000. Register Financial Advisors LLC acquired a new stake in Alibaba Group in the 1st quarter valued at approximately $31,000. Finally, Asset Dedication LLC raised its stake in Alibaba Group by 315.0% during 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 in the last quarter. 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.