1 Growth Stock Down 75% to Buy Right Now
When (NYSE: BABA) reported results for its fiscal 2023 fourth quarter (ended March 31), they were a bit of a mixed bag. Revenue of $30.3 billion missed Wall Street expectations, but adjusted diluted earnings per American depository share of $1.56 beat analyst forecasts.
Nonetheless, a key theme on shareholders' minds continues to be the macroeconomic backdrop. As of this writing, Alibaba shares are down a jaw-dropping 75% from their peak, which was set in October 2020.
But the China-based company is in the midst of some transformative steps to unlock shareholder value. While it's been beaten down, this growth stock is one that investors should consider buying now.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€69.20
-0.570%
With 41 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 very positive potential of 57.51% compared to the current price of 69.2 € for Alibaba Group Holding Ltd ADR.
