Alibaba Group (NYSE:BABA) Stock Price Down 3% – What’s Next?

Shares of Alibaba Group Holding Limited (NYSE:BABA) dropped 3% during mid-day trading on Wednesday . The company traded as low as $99.69 and last traded at $99.27. Approximately 7,053,149 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 20,367,746 shares. The stock had previously closed at $102.35.

Wall Street Analysts Forecast Growth

BABA has been the subject of a number of analyst reports. Robert W. Baird upped their price target on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Mizuho increased their price objective on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. StockNews.com lowered Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Barclays lowered their price objective on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, November 19th. Finally, Benchmark reiterated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $115.13.

Alibaba Group Stock Performance

The firm has a market capitalization of $246.69 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 0.42 and a beta of 0.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a 50 day moving average price of $87.72 and a 200-day moving average price of $89.41.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $13.19. The business had revenue of $236.50 billion for 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 company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $1.82 earnings per share. As a group, sell-side analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Institutional Trading of Alibaba Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC grew its holdings in shares of Alibaba Group by 3.7% during the fourth quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer’s stock worth $240,000 after buying an additional 101 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Alibaba Group by 3.6% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer’s stock worth $266,000 after buying an additional 108 shares during the last quarter. TRUE Private Wealth Advisors boosted its holdings in Alibaba Group by 3.7% in the 3rd quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock valued at $331,000 after purchasing an additional 112 shares in the last quarter. TBH Global Asset Management LLC boosted its holdings in Alibaba Group by 2.4% in the 4th quarter. TBH Global Asset Management LLC now owns 4,795 shares of the specialty retailer’s stock valued at $407,000 after purchasing an additional 112 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Alibaba Group by 6.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock valued at $228,000 after purchasing an additional 121 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

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.