Is Alibaba Stock a Buy Now?
's (NYSE: BABA) stock dropped 5% after it posted its latest earnings report on May 18. For the fourth quarter of fiscal 2023, which ended on March 31, the Chinese e-commerce and cloud leader's revenue rose 2% year over year to 208.2 billion yuan ($30.3 billion) and surpassed analysts' expectations by $410 million. Its adjusted net income increased 38% to 27.4 billion yuan ($4.0 billion), or $1.56 per American depositary share (ADS), and also cleared the consensus forecast by $0.21.
For the full year, Alibaba's revenue and adjusted earnings per ADS grew 2% and 4%, respectively. Should investors buy Alibaba's stock, which has plummeted more than 70% from its all-time high in October 2020, as a value play on China's COVID-19 recovery? Or will this bellwether of the Chinese tech sector remain out of favor for the foreseeable future?
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 45.14% for Alibaba Group Holding Ltd ADR compared to the current price of 75.1 €.