Alibaba Group (NYSE:BABA) Stock Price Down 1.4%

Shares of Alibaba Group Holding Limited (NYSE:BABA) fell 1.4% during trading on Wednesday . The company traded as low as $69.29 and last traded at $69.61. 17,478,883 shares changed hands during trading, an increase of 37% from the average session volume of 12,781,803 shares. The stock had previously closed at $70.62.

Analyst Ratings Changes

A number of brokerages recently commented on BABA. Macquarie cut shares of Alibaba Group from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $88.50 to $85.40 in a research note on Thursday, February 8th. Morgan Stanley restated an “equal weight” rating and set a $85.00 price target on shares of Alibaba Group in a research note on Tuesday, April 9th. Citigroup dropped their price target on shares of Alibaba Group from $126.00 to $124.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Mizuho restated a “buy” rating and set a $95.00 price target on shares of Alibaba Group in a research note on Wednesday, March 27th. Finally, Robert W. Baird dropped their price target on shares of Alibaba Group from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, January 19th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus price target of $112.91.

Alibaba Group Stock Down 0.6 %

The stock’s fifty day moving average price is $73.20 and its 200 day moving average price is $76.00. The stock has a market cap of $173.79 billion, a P/E ratio of 12.71 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.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 EPS for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). The company had revenue of $260.35 billion during the quarter, compared to the consensus estimate of $260.26 billion. Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. Alibaba Group’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.44 EPS. As a group, research analysts forecast that Alibaba Group Holding Limited will post 7.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

A number of institutional investors have recently made changes to their positions in the stock. Naviter Wealth LLC increased its holdings in shares of Alibaba Group by 55.2% in the 1st quarter. Naviter Wealth LLC now owns 41,068 shares of the specialty retailer’s stock worth $2,972,000 after buying an additional 14,608 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Alibaba Group by 106.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 13,783 shares of the specialty retailer’s stock valued at $997,000 after purchasing an additional 7,119 shares during the last quarter. Miracle Mile Advisors LLC grew its holdings in shares of Alibaba Group by 4.9% during the 1st quarter. Miracle Mile Advisors LLC now owns 10,817 shares of the specialty retailer’s stock valued at $783,000 after purchasing an additional 507 shares during the last quarter. Hi Line Capital Management LLC grew its holdings in shares of Alibaba Group by 1.4% during the 1st quarter. Hi Line Capital Management LLC now owns 79,970 shares of the specialty retailer’s stock valued at $5,787,000 after purchasing an additional 1,096 shares during the last quarter. Finally, Wolff Wiese Magana LLC grew its holdings in shares of Alibaba Group by 69.2% during the 1st quarter. Wolff Wiese Magana LLC now owns 1,100 shares of the specialty retailer’s stock valued at $80,000 after purchasing an additional 450 shares during 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.