Alibaba Group (NYSE:BABA) Stock Price Down 2.9% on Analyst Downgrade

Alibaba Group Holding Limited (NYSE:BABA)’s share price was down 2.9% during mid-day trading on Tuesday after Truist Financial lowered their price target on the stock from $114.00 to $113.00. Truist Financial currently has a buy rating on the stock. Alibaba Group traded as low as $78.82 and last traded at $79.18. Approximately 6,768,658 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 17,808,041 shares. The stock had previously closed at $81.55.

Other analysts also recently issued research reports about the stock. Mizuho restated a “buy” rating and set a $95.00 target price on shares of Alibaba Group in a research report on Wednesday, March 27th. Benchmark restated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Wednesday, April 10th. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Citigroup lowered their target price on shares of Alibaba Group from $126.00 to $124.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $85.00 price objective on shares of Alibaba Group in a report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $112.49.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BABA. Princeton Global Asset Management LLC purchased a new position in Alibaba Group in the third quarter valued at about $26,000. Baystate Wealth Management LLC grew its position in shares of 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 last quarter. First Command Advisory Services Inc. bought a new position in shares of Alibaba Group during the 3rd quarter worth approximately $30,000. Milestone Investment Advisors LLC purchased a new stake in Alibaba Group during the third quarter valued at approximately $31,000. Finally, EdgeRock Capital LLC acquired a new stake in Alibaba Group in the fourth quarter valued at approximately $26,000. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Down 1.1 %

The company’s fifty day simple moving average is $73.60 and its 200-day simple moving average is $75.11. The firm has a market capitalization of $199.12 billion, a PE ratio of 14.48 and a beta of 0.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.80 and a quick ratio of 1.80.

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

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.