Mizuho Increases Alibaba Group (NYSE:BABA) Price Target to $113.00

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

A number of other analysts have also commented on the company. Sanford C. Bernstein increased their price objective on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Benchmark reaffirmed a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Friday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research note on Friday, August 23rd. Loop Capital reissued a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a research note on Thursday, August 29th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $114.53.

Alibaba Group Stock Down 2.2 %

Shares of NYSE:BABA opened at $88.57 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $212.07 billion, a P/E ratio of 23.19, a P/E/G ratio of 0.41 and a beta of 0.35. Alibaba Group has a 52-week low of $66.63 and a 52-week high of $117.82. The stock’s fifty day simple moving average is $98.04 and its 200-day simple moving average is $85.47.

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

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its holdings in shares of Alibaba Group by 462.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after purchasing an additional 139,134 shares during the period. Generate Investment Management Ltd bought a new stake in shares of Alibaba Group during the 3rd quarter valued at about $12,656,000. SRN Advisors LLC raised its stake in Alibaba Group by 76.7% during the first quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock worth $1,611,000 after acquiring an additional 9,663 shares during the period. Nations Financial Group Inc. IA ADV lifted its holdings in Alibaba Group by 63.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock worth $3,047,000 after acquiring an additional 11,192 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Alibaba Group by 6.5% in the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock valued at $87,327,000 after acquiring an additional 50,000 shares during the period. 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.