Could Alibaba Stock Help You Become a Millionaire?
's (NYSE: BABA) stock price sank 6% on Feb. 7 after the Chinese e-commerce and cloud leader posted its latest earnings report. For the third quarter of fiscal 2024, which ended on Dec. 31, its revenue rose 5% year over year to 260.35 billion yuan ($36.67 billion) and beat analysts' estimates by $270 million. Its adjusted earnings per ADS dipped 2% to $2.67 but cleared the consensus forecast by $0.03 per share.
Alibaba's headline numbers weren't disastrous, but it's still struggling to revive its core e-commerce and cloud businesses. However, its stock trades just 8% above its IPO price and looks dirt cheap at 10 times next year's earnings. So if you take a contrarian view and invest $10,000 in Alibaba today, could it make you a millionaire over the next 20 years?
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Source Fool.com
Alibaba Group Holding Ltd ADR Stock
With 42 Buy predictions and 2 Sell predictions Alibaba Group Holding Ltd ADR is one of the favorites of our community.
As a result the target price of 109 € shows a positive potential of 45.72% compared to the current price of 74.8 € for Alibaba Group Holding Ltd ADR.
