Mizuho Forecasts Strong Price Appreciation for Alibaba Group (NYSE:BABA) Stock

Alibaba Group (NYSE:BABA) had its price target raised by Mizuho from $92.00 to $113.00 in a research note published on Tuesday morning,Benzinga reports. Mizuho currently has an outperform rating on the specialty retailer’s stock.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird increased their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. Barclays increased their target price on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Sanford C. Bernstein increased their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, August 16th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $114.53.

Alibaba Group Stock Performance

Shares of BABA stock opened at $88.57 on Tuesday. The stock’s 50-day moving average is $98.04 and its two-hundred day moving average is $85.47. The firm has a market cap of $212.07 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 0.41 and a beta of 0.35. Alibaba Group has a 1 year low of $66.63 and a 1 year high of $117.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. During the same quarter last year, the company posted $2.47 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Analysts predict that Alibaba Group will post 8.51 earnings per share for the current year.

Institutional Investors Weigh In On Alibaba Group

Several institutional investors have recently modified their holdings of BABA. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Alibaba Group by 8.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,279 shares of the specialty retailer’s stock worth $599,000 after acquiring an additional 632 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Alibaba Group by 123.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 7,158 shares of the specialty retailer’s stock worth $518,000 after buying an additional 3,950 shares during the last quarter. NorthRock Partners LLC purchased a new stake in shares of Alibaba Group in the 1st quarter worth about $207,000. QRG Capital Management Inc. grew its stake in Alibaba Group by 12.8% in the 1st quarter. QRG Capital Management Inc. now owns 34,991 shares of the specialty retailer’s stock valued at $2,532,000 after acquiring an additional 3,976 shares during the last quarter. Finally, US Bancorp DE grew its stake in Alibaba Group by 12.2% in the 1st quarter. US Bancorp DE now owns 30,414 shares of the specialty retailer’s stock valued at $2,201,000 after acquiring an additional 3,305 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

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.