Alibaba Group (NYSE:BABA) Shares Gap Down - Here's What Happened

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $143.20, but opened at $137.18. Alibaba Group shares last traded at $138.83, with a volume of 6,653,439 shares.

Wall Street Analysts Forecast Growth

Several research firms have commented on BABA. StockNews.com raised shares of Alibaba Group from a "hold" rating to a "buy" rating in a report on Friday, February 21st. Arete Research raised shares of Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. Barclays upped their target price on Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Robert W. Baird lifted their price target on Alibaba Group from $110.00 to $125.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. upped their price objective on Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Fifteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $144.07.

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Alibaba Group Trading Down 1.4 %

The company has a market cap of $315.17 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28. The business's fifty day moving average price is $117.57 and its 200 day moving average price is $101.28. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48.

Alibaba Group (NYSE:BABA - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The firm had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. Research analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Institutional Trading of Alibaba Group

Large investors have recently bought and sold shares of the business. Rings Capital Management LLC grew its stake in Alibaba Group by 1.4% during the fourth quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock worth $602,000 after purchasing an additional 100 shares during the period. Lindbrook Capital LLC grew its position in shares of Alibaba Group by 3.7% during the 4th 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 period. Global Endowment Management LP increased its stake in shares of Alibaba Group by 1.4% in the 4th quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer's stock valued at $642,000 after acquiring an additional 106 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in 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 acquiring an additional 108 shares in the last quarter. Finally, TRUE Private Wealth Advisors grew its holdings in Alibaba Group by 3.7% in the third quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer's stock worth $331,000 after purchasing an additional 112 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

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.