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Is Alibaba Stock a Buy Now?

TheMotleyFool

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Alibaba (NYSE: BABA) posted its latest quarterly report on Feb. 23. For the third quarter of fiscal 2023 (ended on Dec. 31), the Chinese e-commerce and cloud giant's revenue grew 2% year over year to 247.8 billion yuan ($35.9 billion) and beat analysts' estimates by $40 million. Its adjusted net income rose 12% to 49.9 billion yuan ($7.2 billion), or $2.79 per ADS, and also cleared the consensus forecast by $0.39.

However, that earnings beat didn't bring the bulls back to Alibaba, and its stock remains more than 70% below its all-time high from October 2020. Is this a buying opportunity for investors who can look past its near-term challenges?

Image source: Getty Images.

Source Fool.com

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