Why Alibaba Stock Jumped Today
Shares of Alibaba (NYSE: BABA) were moving higher today after the Chinese tech giant posted better-than-expected results in its first-quarter earnings report, showing signs that its long malaise through a government crackdown and a sluggish Chinese economy may be coming to an end.
As of 12:57 p.m. ET, the stock was up 5.7% on the news.
Revenue growth in the quarter accelerated, increasing 14% to $32.3 billion, ahead of estimates at $31.2 billion, which was its fastest growth rate in several quarters.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€106.20
5.150%
With 47 Buy predictions and not a single Sell prediction Alibaba Group Holding Ltd ADR is an absolute favorite of our community.
As a result the target price of 164 € shows a very positive potential of 54.43% compared to the current price of 106.2 € for Alibaba Group Holding Ltd ADR.
