Alibaba Group (NYSE:BABA) Shares Down 1.7% - What's Next?

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) dropped 1.7% on Friday . The company traded as low as $102.44 and last traded at $102.44. Approximately 16,237,952 shares changed hands during trading, a decline of 20% from the average daily volume of 20,413,650 shares. The stock had previously closed at $104.18.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BABA shares. Morgan Stanley upgraded Alibaba Group from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $100.00 to $180.00 in a research note on Monday, February 24th. Barclays lifted their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Sanford C. Bernstein upgraded shares of Alibaba Group from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $104.00 to $165.00 in a research report on Tuesday, February 25th. Robert W. Baird boosted 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, Benchmark raised their price objective on Alibaba Group from $118.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $150.36.

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Alibaba Group Stock Up 5.9 %

The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $270.94 billion, a P/E ratio of 16.48, a PEG ratio of 0.61 and a beta of 0.24. The stock has a 50 day moving average price of $126.59 and a 200 day moving average price of $104.64.

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

Hedge Funds Weigh In On Alibaba Group

Hedge funds have recently made changes to their positions in the stock. Appaloosa LP boosted its stake in shares of Alibaba Group by 18.4% in the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock valued at $1,004,181,000 after purchasing an additional 1,843,158 shares during the last quarter. Norges Bank acquired a new position in shares of Alibaba Group in the 4th quarter valued at about $585,479,000. Bank of America Corp DE boosted its position in shares of Alibaba Group by 7.0% during the 4th quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock valued at $566,124,000 after purchasing an additional 438,537 shares in the last quarter. Fisher Asset Management LLC grew its stake in Alibaba Group by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,093,828 shares of the specialty retailer's stock worth $431,906,000 after purchasing an additional 78,757 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Alibaba Group by 19.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock worth $390,885,000 after purchasing an additional 752,275 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.

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.