Alibaba Group (NYSE:BABA – Get Free Report) announced its quarterly earnings data on Thursday. The specialty retailer reported $15.63 earnings per share for the quarter, beating the consensus estimate of $15.28 by $0.35, MarketWatch Earnings reports. The firm had revenue of $224.79 billion during the quarter, compared to analysts’ expectations of $224.48 billion. Alibaba Group had a return on equity of 12.55% and a net margin of 9.45%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.50 EPS.
Alibaba Group Stock Down 9.1 %
Shares of NYSE:BABA opened at $79.11 on Friday. The business has a fifty day simple moving average of $84.79 and a 200 day simple moving average of $87.63. Alibaba Group has a 12-month low of $74.58 and a 12-month high of $121.30. The firm has a market cap of $202.98 billion, a P/E ratio of 17.01 and a beta of 0.67. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.14.
Wall Street Analysts Forecast Growth
BABA has been the subject of a number of analyst reports. Truist Financial dropped their price target on Alibaba Group from $135.00 to $126.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. Bank of America decreased their price objective on shares of Alibaba Group from $142.00 to $136.00 in a research note on Tuesday, October 10th. DZ Bank upgraded Alibaba Group from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Friday, August 11th. Benchmark restated a “buy” rating and set a $180.00 price objective on shares of Alibaba Group in a research report on Tuesday, October 10th. Finally, Sanford C. Bernstein raised their price target on shares of Alibaba Group from $98.00 to $100.00 and gave the company a “market perform” rating in a research note on Friday, August 11th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $137.07.
Institutional Trading of Alibaba Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BABA. Advisors Asset Management Inc. grew its stake in shares of Alibaba Group by 6.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,464 shares of the specialty retailer’s stock valued at $214,000 after buying an additional 142 shares during the period. Hilltop Holdings Inc. grew its holdings in Alibaba Group by 7.0% during the 2nd quarter. Hilltop Holdings Inc. now owns 2,560 shares of the specialty retailer’s stock valued at $213,000 after buying an additional 168 shares in the last quarter. Bell & Brown Wealth Advisors LLC boosted its stake in Alibaba Group by 0.5% during the second quarter. Bell & Brown Wealth Advisors LLC now owns 31,389 shares of the specialty retailer’s stock valued at $2,616,000 after buying an additional 170 shares during the period. IHT Wealth Management LLC boosted its position in shares of Alibaba Group by 2.1% during the 1st quarter. IHT Wealth Management LLC now owns 10,087 shares of the specialty retailer’s stock valued at $1,031,000 after acquiring an additional 203 shares during the last quarter. Finally, Lumature Wealth Partners LLC increased its stake in Alibaba Group by 57.0% in the first quarter. Lumature Wealth Partners LLC now owns 609 shares of the specialty retailer’s stock valued at $66,000 after acquiring an additional 221 shares during the last quarter. Institutional investors and hedge funds own 14.22% 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.
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