Alibaba Group (NYSE:BABA) Price Target Cut to $110.00

Alibaba Group (NYSE:BABA) had its target price cut by Morgan Stanley from $150.00 to $110.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the specialty retailer’s stock.

A number of other research firms have also recently commented on BABA. Benchmark reissued a buy rating and issued a $180.00 target price on shares of Alibaba Group in a research note on Tuesday, October 10th. HSBC reduced their price objective on shares of Alibaba Group from $142.00 to $135.00 in a research note on Monday, October 9th. Truist Financial dropped their target price on shares of Alibaba Group from $135.00 to $126.00 and set a buy rating on the stock in a research note on Tuesday, October 31st. Bank of America reduced their price target on shares of Alibaba Group from $142.00 to $136.00 in a research report on Tuesday, October 10th. Finally, Susquehanna reaffirmed a positive rating and issued a $160.00 price objective on shares of Alibaba Group in a research report on Thursday, August 31st. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $131.20.

Alibaba Group Stock Up 1.1 %

Shares of Alibaba Group stock opened at $78.45 on Friday. Alibaba Group has a 1 year low of $74.58 and a 1 year high of $121.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.92 and a quick ratio of 1.92. The company has a 50-day moving average of $84.34 and a 200 day moving average of $87.64. The firm has a market cap of $201.28 billion, a price-to-earnings ratio of 16.87 and a beta of 0.67.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, November 16th. The specialty retailer reported $15.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.28 by $0.35. The firm had revenue of $224.79 billion during the quarter, compared to analyst estimates of $224.48 billion. Alibaba Group had a net margin of 9.45% and a return on equity of 12.55%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the business earned $1.50 earnings per share. As a group, sell-side analysts anticipate that Alibaba Group will post 7.99 earnings per share for the current fiscal year.

Alibaba Group Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Thursday, January 18th. Stockholders of record on Thursday, December 21st will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, December 20th.

Institutional Trading of Alibaba Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BABA. Ovata Capital Management Ltd purchased a new position in shares of Alibaba Group during the 1st quarter valued at about $2,553,000. Maven Securities LTD boosted its position in shares of Alibaba Group by 8.0% in the second quarter. Maven Securities LTD now owns 129,433 shares of the specialty retailer’s stock worth $10,788,000 after purchasing an additional 9,549 shares during the period. M&G Investment Management Ltd. increased its stake in shares of Alibaba Group by 24.4% in the first quarter. M&G Investment Management Ltd. now owns 453,636 shares of the specialty retailer’s stock worth $46,271,000 after purchasing an additional 88,898 shares in the last quarter. Perpetual Ltd bought a new stake in shares of Alibaba Group during the 1st quarter valued at $1,328,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Alibaba Group by 32.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 580,334 shares of the specialty retailer’s stock valued at $48,371,000 after buying an additional 142,517 shares in the last quarter. 14.22% of the stock is owned by hedge funds and other institutional investors.

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.