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

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s stock price traded 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. 6,768,658 shares were traded during mid-day trading, a decline of 62% from the average session volume of 17,808,041 shares. The stock had previously closed at $81.55.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. dropped their target price on Alibaba Group from $105.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 9th. The Goldman Sachs Group reduced their target price on shares of Alibaba Group from $121.00 to $105.00 and set a "buy" rating on the stock in a report on Thursday, February 8th. Benchmark reaffirmed a "buy" rating and set a $118.00 price target on shares of Alibaba Group in a research note on Wednesday, April 10th. Susquehanna reduced their price objective on shares of Alibaba Group from $150.00 to $135.00 and set a "positive" rating on the stock in a research note on Thursday, February 8th. Finally, Macquarie lowered Alibaba Group from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $88.50 to $85.40 in a research report 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's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $112.49.

Institutional Investors Weigh In On Alibaba Group

A number of hedge funds have recently bought and sold shares of the business. NorthRock Partners LLC bought a new stake in shares of Alibaba Group in the 1st quarter worth about $207,000. WNY Asset Management LLC increased its stake in Alibaba Group by 2.8% during the first quarter. WNY Asset Management LLC now owns 6,022 shares of the specialty retailer's stock worth $436,000 after acquiring an additional 164 shares during the last quarter. Chilton Capital Management LLC purchased a new stake in Alibaba Group during the first quarter valued at approximately $190,000. Concurrent Investment Advisors LLC lifted its stake in shares of Alibaba Group by 123.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 7,158 shares of the specialty retailer's stock valued at $518,000 after purchasing an additional 3,950 shares during the last quarter. Finally, Primoris Wealth Advisors LLC increased its position in shares of Alibaba Group by 9.2% during the 1st quarter. Primoris Wealth Advisors LLC now owns 15,301 shares of the specialty retailer's stock valued at $1,107,000 after purchasing an additional 1,292 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Down 2.7 %

The company has a market cap of $201.43 billion, a PE ratio of 14.65 and a beta of 0.44. The company has a fifty day moving average of $73.60 and a two-hundred day moving average of $75.11. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.80 and a current ratio of 1.80.

Alibaba Group (NYSE:BABA - Get Free Report) last released its earnings results 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). The firm 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 revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.44 EPS. As a group, analysts anticipate that Alibaba Group Holding Limited will post 7.54 earnings per share for the current fiscal year.

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.