Alibaba reports growth in core businesses and AI revenue, potentially impacting stock price.
Stock AI’s forecasts:
🔴 -6.8% short-term
🟢 +1.3% long-term
Stock AI’s (BABA) Forecast get (+8.6% Profit)
StockAI’s analysis delivers real-world results. On 11 March 2024, $BABA ($75.4), StockAI predicted a long-term 🔴 sell signal. It was accurate: 1 month later price dropped to $68.9 (🔴-8.6%). Selling BABA on this signal yielded a +8.6% profit 💰💰.
BABA-Alibaba Group Holding Limited News
🔴 BI Asset Management Fondsmaeglerselskab A S cut its stake in Alibaba Group Holding Limited by 30.5% in the 4th quarter.
🔴 AGF Management Ltd. lowered its stake in Alibaba Group Holding Limited by 99.1% in the fourth quarter.
🟢 Norges Bank purchased a new position in shares of Alibaba Group Holding Limited during the fourth quarter.
🟢 Western Wealth Management LLC increased its stake in Alibaba Group Holding Limited by 14.1% in the 4th quarter.
🔴 Jennison Associates LLC raised its stake in Alibaba Group Holding Limited by 11.8% in the fourth quarter.
🔴 Level Four Advisory Services LLC raised its stake in Alibaba Group Holding Limited by 7.4% during the 4th quarter.
Alibaba Group Holding Limited recently reported lower stock after Q4 2023 results, with strong growth in core businesses. Despite some investors cutting their stakes in the company, others increased their positions. The mixed reactions from investors have caused some fluctuations in the stock price. The overall sentiment seems to be somewhat negative due to the decrease in stake from some major investors. However, the long-term forecast still shows a slight increase in the stock price. It will be interesting to see how the market continues to react to the news and whether the positive growth in core businesses can outweigh the negative impact of reduced stakes from some investors.
BABA-Alibaba Group Holding Limited Analyst Ratings
In recent analyst ratings for Alibaba Group Holding Limited (NYSE:BABA) stock, there have been several changes in recommendations:
📉 Mizuho cut their price target on Alibaba Group from $95.00 to $92.00.
📉 Bank of America raised their price target on Alibaba Group from $99.00 to $103.00.
📉 Barclays decreased their price target on Alibaba Group from $109.00 to $107.00.
📉 Citigroup lowered their price target on Alibaba Group from $124.00 to $122.00.
📉 Truist Financial reduced their price target on Alibaba Group from $113.00 to $110.00.
Sources:
1. Mizuho cuts Alibaba Group (BABA) price target to $92.00
2. Bank of America raises Alibaba Group (BABA) price target to $103.00
3. Barclays lowers Alibaba Group (BABA) price target to $107.00
4. Citigroup cuts Alibaba Group (BABA) price target to $122.00
5. Truist Financial reduces Alibaba Group (BABA) price target to $110.00
Disclaimer
Investors may consider the AI predictions and news summaries as one factor in their investment decisions alongside their own research and risk tolerance.
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