Alibaba Group (NYSE:BABA) Posts Earnings Results, Beats Expectations By $10.23 EPS

Alibaba Group (NYSE:BABA – Get Rating) posted its quarterly earnings results on Thursday. The specialty retailer reported $11.73 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $10.23, Briefing.com reports. Alibaba Group had a net margin of 6.35% and a return on equity of 11.17%. The firm had revenue of $205.56 billion for the quarter, compared to analysts’ expectations of $203.80 billion. During the same quarter in the prior year, the company posted $2.16 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis.

Alibaba Group Stock Performance

NYSE BABA traded down $4.87 during mid-day trading on Friday, reaching $92.56. 27,067,052 shares of the stock were exchanged, compared to its average volume of 29,717,824. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.66. The business’s 50 day moving average is $105.41 and its 200-day moving average is $104.62. The company has a market capitalization of $245.11 billion, a P/E ratio of 30.15, a P/E/G ratio of 1.61 and a beta of 0.58. Alibaba Group has a 1 year low of $73.28 and a 1 year high of $199.32.

Institutional Investors Weigh In On Alibaba Group

A number of hedge funds have recently modified their holdings of BABA. Fairfield Bush & CO. acquired a new stake in Alibaba Group during the first quarter worth about $53,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in Alibaba Group during the first quarter worth about $2,452,000. Dakota Wealth Management purchased a new position in Alibaba Group during the first quarter worth about $390,000. Sequoia Financial Advisors LLC boosted its stake in Alibaba Group by 11.3% during the first quarter. Sequoia Financial Advisors LLC now owns 7,342 shares of the specialty retailer’s stock worth $799,000 after buying an additional 743 shares during the period. Finally, Zions Bancorporation N.A. boosted its stake in Alibaba Group by 46.0% during the first quarter. Zions Bancorporation N.A. now owns 7,816 shares of the specialty retailer’s stock worth $850,000 after buying an additional 2,464 shares during the period. 17.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BABA shares. Barclays cut their price target on shares of Alibaba Group from $170.00 to $161.00 and set an “overweight” rating on the stock in a report on Friday, May 27th. UBS Group dropped their price target on shares of Alibaba Group from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 11th. Truist Financial lifted their price target on shares of Alibaba Group from $132.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, May 31st. Robert W. Baird decreased their price objective on shares of Alibaba Group from $160.00 to $144.00 and set an “outperform” rating on the stock in a research report on Monday, May 23rd. Finally, Bank of America decreased their price objective on shares of Alibaba Group from $162.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus price target of $178.76.

About Alibaba Group

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Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.