Alibaba Group (NYSE:BABA) Price Target Cut to $113.00 by Analysts at Truist Financial

Alibaba Group (NYSE:BABA - Get Free Report) had its target price reduced by stock analysts at Truist Financial from $114.00 to $113.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the specialty retailer's stock. Truist Financial's target price would suggest a potential upside of 42.35% from the stock's current price.

Several other research analysts have also weighed in on the stock. The Goldman Sachs Group lowered 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. Robert W. Baird lowered their price objective on shares of Alibaba Group from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, January 19th. Citigroup lowered their price objective 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. JPMorgan Chase & Co. lowered their price objective on shares of Alibaba Group from $105.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 9th. Finally, Susquehanna lowered 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 note on Thursday, February 8th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Alibaba Group currently has an average rating of "Moderate Buy" and an average price target of $112.49.

Alibaba Group Trading Down 2.7 %

Shares of BABA traded down $2.17 during mid-day trading on Tuesday, reaching $79.38. The stock had a trading volume of 14,549,289 shares, compared to its average volume of 17,905,604. Alibaba Group has a 52-week low of $66.63 and a 52-week high of $102.50. The firm has a market cap of $201.43 billion, a price-to-earnings ratio of 14.65 and a beta of 0.44. The business's fifty day moving average is $73.60 and its 200 day moving average is $75.11. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) 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 firm had revenue of $260.35 billion for the quarter, compared to analyst estimates of $260.26 billion. During the same quarter in the previous year, the business posted $2.44 earnings per share. Alibaba Group's revenue for the quarter was up 5.1% on a year-over-year basis. On average, sell-side analysts predict that Alibaba Group will post 7.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Princeton Global Asset Management LLC acquired a new stake in shares of Alibaba Group in the third quarter valued at approximately $26,000. Baystate Wealth Management LLC boosted its stake in Alibaba Group by 184.6% during the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 216 shares during the period. EdgeRock Capital LLC purchased a new position in Alibaba Group during the 4th quarter worth $26,000. First Command Advisory Services Inc. acquired a new position in Alibaba Group in the third quarter valued at $30,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of Alibaba Group in the third quarter valued at about $31,000. Institutional investors and hedge funds 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.