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

Key Points

• Nomura has raised its price target for Alibaba Group (NYSE:BABA) from $170.00 to $215.00, suggesting a potential upside of 22.81% based on the stock's previous close.
• Other analysts, including Citigroup and Barclays, have also recently reaffirmed or increased their positive ratings and price targets for Alibaba stock.
• Alibaba Group currently holds an average rating of "Buy" from analysts, with a general average target price of $185.71.

Alibaba Group (NYSE:BABA - Get Free Report) had its price objective lifted by equities research analysts at Nomura from $170.00 to $215.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage currently has a "buy" rating on the specialty retailer's stock. Nomura's target price indicates a potential upside of 22.81% from the stock's previous close.

A number of other equities analysts have also commented on the stock. Citigroup reissued a "buy" rating on shares of Alibaba Group in a report on Wednesday, September 24th. Barclays upped their price objective on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. CLSA raised their price objective on shares of Alibaba Group from $155.00 to $200.00 and gave the company an "outperform" rating in a research note on Thursday, October 2nd. Robert W. Baird raised their price objective on shares of Alibaba Group from $153.00 to $174.00 and gave the stock an "outperform" rating in a report on Wednesday, September 24th. Finally, Mizuho lifted their price target on shares of Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $185.71.

Alibaba Group Stock Performance

Shares of NYSE BABA traded down $6.05 during mid-day trading on Thursday, hitting $175.07. The company had a trading volume of 4,634,694 shares, compared to its average volume of 21,358,354. The stock's 50-day moving average price is $144.47 and its 200-day moving average price is $127.08. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $417.38 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 2.14 and a beta of 0.18. Alibaba Group has a 1 year low of $80.06 and a 1 year high of $192.67.

Institutional Trading of Alibaba Group

Hedge funds have recently added to or reduced their stakes in the business. Temasek Holdings Private Ltd lifted its stake in Alibaba Group by 23.4% in the first quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer's stock worth $728,633,000 after acquiring an additional 1,045,789 shares during the period. American Century Companies Inc. raised its position in shares of Alibaba Group by 52.1% in the 1st quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer's stock valued at $303,215,000 after purchasing an additional 785,494 shares during the last quarter. Causeway Capital Management LLC increased its holdings in Alibaba Group by 42.6% in the 1st quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer's stock worth $179,305,000 after buying an additional 404,842 shares during the period. WCM Investment Management LLC acquired a new position in Alibaba Group in the 1st quarter worth approximately $4,074,000. Finally, Avaii Wealth Management LLC purchased a new position in shares of Alibaba Group during the 1st quarter valued at approximately $563,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

About Alibaba Group

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.

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