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

Alibaba Group (NYSE:BABA - Get Free Report) had its target price hoisted by equities research analysts at Mizuho from $92.00 to $113.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the specialty retailer's stock. Mizuho's target price would suggest a potential upside of 22.99% from the stock's previous close.

Other analysts have also issued reports about the stock. Macquarie upgraded shares of Alibaba Group from a "neutral" rating to an "outperform" rating and set a $145.00 price objective for the company in a research note on Monday, October 7th. Robert W. Baird raised their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. 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 report on Friday, August 16th. Bank of America increased their price target on Alibaba Group from $106.00 to $124.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, Sanford C. Bernstein lifted 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. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $114.53.

Alibaba Group Price Performance

Shares of BABA stock traded down $3.54 during trading hours on Tuesday, hitting $91.88. 18,807,631 shares of the company's stock were exchanged, compared to its average volume of 17,646,957. The stock has a market cap of $220.05 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 0.42 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. Alibaba Group has a 52 week low of $66.63 and a 52 week high of $117.82. The stock's 50-day moving average is $97.49 and its 200-day moving average is $85.28.

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

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Primecap Management Co. CA lifted its holdings in shares of Alibaba Group by 5.2% during the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer's stock valued at $1,574,711,000 after purchasing an additional 1,074,175 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Alibaba Group by 1,392.6% in the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer's stock worth $650,043,000 after buying an additional 5,715,155 shares in the last quarter. Discerene Group LP increased its holdings in shares of Alibaba Group by 21.2% in the 1st quarter. Discerene Group LP now owns 3,021,375 shares of the specialty retailer's stock worth $218,627,000 after buying an additional 529,237 shares during the last quarter. AMF Tjanstepension AB grew its position in Alibaba Group by 6.9% in the third quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer's stock worth $296,062,000 after acquiring an additional 178,999 shares in the last quarter. Finally, Eminence Capital LP raised its position in Alibaba Group by 9.0% during the second quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer's stock valued at $131,788,000 after purchasing an additional 150,488 shares during the period. 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.