Alibaba Group (NYSE:BABA) PT Lowered to $113.00 at Truist Financial

Alibaba Group (NYSE:BABA) had its target price lowered by analysts at Truist Financial from $114.00 to $113.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s price objective would suggest a potential upside of 38.54% from the stock’s current price.

BABA has been the topic of several other research reports. Barclays decreased their target price on Alibaba Group from $138.00 to $109.00 and set an “overweight” rating on the stock in a research note on Friday, January 12th. The Goldman Sachs Group cut their target price 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. Mizuho reiterated a “buy” rating and issued a $95.00 price target on shares of Alibaba Group in a research note on Wednesday, March 27th. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Finally, Robert W. Baird cut their price target on Alibaba Group from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $112.49.

Alibaba Group Price Performance

NYSE BABA opened at $81.57 on Tuesday. The stock has a market cap of $206.97 billion, a price-to-earnings ratio of 15.05 and a beta of 0.44. Alibaba Group has a 12 month low of $66.63 and a 12 month high of $102.50. The company’s 50 day moving average is $73.57 and its two-hundred day moving average is $75.11. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.12.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 EPS for the quarter, missing the consensus estimate of $19.12 by ($0.15). Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The firm had revenue of $260.35 billion for the quarter, compared to the consensus estimate of $260.26 billion. During the same quarter in the previous year, the business earned $2.44 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts anticipate that Alibaba Group will post 7.54 earnings per share for the current year.

Hedge Funds Weigh In On Alibaba Group

Large investors have recently made changes to their positions in the company. Sanders Capital LLC boosted its position in shares of Alibaba Group by 322.7% during the third quarter. Sanders Capital LLC now owns 15,029,238 shares of the specialty retailer’s stock valued at $1,303,636,000 after buying an additional 11,473,618 shares during the period. Norges Bank purchased a new stake in Alibaba Group in the fourth quarter worth $329,367,000. Assenagon Asset Management S.A. lifted its position in shares of Alibaba Group by 461.2% during the third quarter. Assenagon Asset Management S.A. now owns 4,215,884 shares of the specialty retailer’s stock worth $365,686,000 after purchasing an additional 3,464,723 shares during the last quarter. Blue Pool Management Ltd. purchased a new stake in shares of Alibaba Group during the fourth quarter valued at $151,726,000. Finally, H&H International Investment LLC grew its holdings in shares of Alibaba Group by 63.1% in the fourth quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock worth $384,390,000 after purchasing an additional 1,918,730 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

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.