Alibaba Stock: Bear vs. Bull
(NYSE: BABA) posted its latest earnings report on Aug. 10. For the first quarter of fiscal 2024, which ended on June 30, the Chinese e-commerce and cloud leader's revenue rose 14% year over year to 234.2 billion yuan ($32.3 billion) and beat analysts' estimates by $1.1 billion. Its adjusted net income grew 48% year over year to 44.9 billion yuan ($6.2 billion), or $2.40 per ADS, which also cleared the consensus forecast by $0.39.
Does that earnings beat indicate it's safe to buy Alibaba stock again? Let's weigh the bullish and bearish cases to decide.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
The stock is one of the favorites of our community with 42 Buy predictions and 2 Sell predictions.
With a target price of 109 € there is a positive potential of 46.7% for Alibaba Group Holding Ltd ADR compared to the current price of 74.3 €.