12/3/2023 0 Comments Alibaba price target![]() So big, in fact, that for a while back in April, the Chinese government seemed particularly threatened by the fact that Alibaba and Ant Group were so closely connected. Alibaba owns about a third of Ant Group, which is directly connected to Ant Financial, which runs Alipay.Īlipay is China's biggest mobile payments service, and the service that most Chinese turn to for large-scale purchases. An Amazon that focuses on roughly one-sixth of the entire planet's population is a very big deal.Įxcept there's one major problem: Beijing. Alibaba is described by many as the Amazon ( AMZN) of China. ![]() ![]() It's currently trading a lot closer to its lowest targets than its highest. On the surface, being bullish on Alibaba should be the most natural thing in the world. The average Alibaba price target of $216.10 implies 61.7% upside potential.Īnalyst price targets range from a low of $170 per share to a high of $275 per share. Turning to Wall Street, Alibaba has a Strong Buy consensus rating, based on 20 Buys, two Holds, and one Sell assigned in the past three months. Therein, it pointed to “regulations” along with growing “.privacy and data protection regulations and concerns” as issues hurting the company. (See today’s best-performing stocks on TipRanks) Analysts were expecting 28%.Īlibaba issued a statement along with the earnings release. In a development that added insult to injury for investors, the company projects a growth rate between 20% and 23% for this year. The company posted around $1.75 per share against estimates of around $1.94 per share. Earnings per share came in not only below expectations for this quarter, but also were down over a third, 38%, against last year's figures. Alibaba posted revenue of $31.1 billion against an expected $32.1 billion. What happened? The latest news out of Alibaba is nothing but down. ![]() That ultimately turned into the start of the third and most pronounced leg down yet. Late June brought with it a bit of recovery. A bit of a plateau kicked in before late April saw a second leg down. Alibaba's stock has been in a protracted but slow state of decline for much of 2021.Įarly gains in January into the middle of February were lost in late February. Looking at Alibaba stock charts for the year so far shows a major venture clearly in retreat. ![]()
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