Alibaba Group (NYSE:BABA) Trading Down 0.1%

Alibaba Group Holding Limited (NYSE:BABA) fell 0.1% during mid-day trading on Thursday . The stock traded as low as $73.81 and last traded at $74.53. 4,621,010 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 17,935,191 shares. The stock had previously closed at $74.63.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BABA shares. The Goldman Sachs Group reduced their price objective on shares of Alibaba Group from $121.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Benchmark reiterated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Wednesday, April 10th. JPMorgan Chase & Co. cut their target price on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Mizuho reiterated a “buy” rating and set a $95.00 price target on shares of Alibaba Group in a research report on Wednesday, March 27th. Finally, Susquehanna cut their price objective on shares of Alibaba Group from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Thursday, February 8th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $112.91.

Alibaba Group Price Performance

The company has a market capitalization of $190.59 billion, a P/E ratio of 13.86 and a beta of 0.46. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average price is $73.14 and its 200-day moving average price is $75.57.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). The firm had revenue of $260.35 billion during the quarter, compared to analysts’ expectations of $260.26 billion. Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. Alibaba Group’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.44 earnings per share. As a group, sell-side analysts predict that Alibaba Group Holding Limited will post 7.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Princeton Global Asset Management LLC bought a new stake in Alibaba Group in the 3rd quarter worth $26,000. GPS Wealth Strategies Group LLC raised its position in Alibaba Group by 116.7% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 175 shares during the last quarter. Baystate Wealth Management LLC lifted its holdings in Alibaba Group by 184.6% in the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock worth $26,000 after buying an additional 216 shares during the period. First Command Advisory Services Inc. bought a new stake in shares of Alibaba Group in the 3rd quarter worth approximately $30,000. Finally, Milestone Investment Advisors LLC purchased a new position in shares of Alibaba Group during the third quarter valued at approximately $31,000. 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.