What Can Investors Expect From Alibaba in 2024?
2023 was a year of change for (NYSE: BABA). The company announced plans to split up its massive business empire, reshuffled its management team, and brought in a new CEO to lead the company.
With so much going on at the company, it's crucial that investors understand Alibaba's most important focus areas in 2024.
Alibaba's crown jewel, the e-commerce segment led by Taobao and Tmall, has faced enormous challenges lately. The rise of PDD Holdings and Douying have made for an increasingly competitive business environment, and Alibaba's response to this challenge has been slow, resulting in sluggish results. The China commerce segment saw revenue decline 1% in fiscal 2023 (ended March 31, 2023). By contrast, Pinduoduo's revenue grew 51% over the same period, a clear signal that Alibaba needs drastic changes to get back on track. And that's precisely what its management team, led by new CEO Eddie Wu, is focusing on.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
The stock is one of the favorites of our community with 47 Buy predictions and 3 Sell predictions.
With a target price of 106 € there is a positive potential of 40.58% for Alibaba Group Holding Ltd ADR compared to the current price of 75.4 €.
