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

Alibaba Group (NYSE:BABA) had its price objective lifted by analysts at Mizuho from $92.00 to $113.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the specialty retailer’s stock. Mizuho’s price objective would indicate a potential upside of 22.84% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Truist Financial cut their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Benchmark reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Friday, August 16th. 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 report on Friday, August 16th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a research report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $114.53.

Alibaba Group Stock Performance

Shares of BABA stock opened at $91.99 on Tuesday. The stock’s fifty day simple moving average is $97.68 and its 200-day simple moving average is $85.39. The company has a market capitalization of $220.31 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 0.41 and a beta of 0.35. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. Alibaba Group has a 1-year low of $66.63 and a 1-year high of $117.82.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. Alibaba Group’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.47 EPS. On average, sell-side analysts predict 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 added to or reduced their stakes in BABA. Venturi Wealth Management LLC boosted its stake in Alibaba Group by 6.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock valued at $228,000 after buying an additional 121 shares in the last quarter. ICA Group Wealth Management LLC grew its holdings in shares of Alibaba Group by 14.6% in the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 128 shares during the last quarter. Cornerstone Wealth Management LLC increased its position in shares of Alibaba Group by 4.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock worth $361,000 after purchasing an additional 139 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Alibaba Group by 3.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock valued at $515,000 after purchasing an additional 143 shares during the last quarter. Finally, Concord Wealth Partners boosted its position in Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 155 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

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.