Why Alibaba Stock Jumped Today
Shares of Alibaba (NYSE: BABA) were moving higher today after the Chinese tech giant posted better-than-expected results in its first-quarter earnings report, showing signs that its long malaise through a government crackdown and a sluggish Chinese economy may be coming to an end.
As of 12:57 p.m. ET, the stock was up 5.7% on the news.
Revenue growth in the quarter accelerated, increasing 14% to $32.3 billion, ahead of estimates at $31.2 billion, which was its fastest growth rate in several quarters.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€73.80
0.550%
With 48 Buy predictions and 3 Sell predictions Alibaba Group Holding Ltd ADR is one of the favorites of our community.
As a result the target price of 105 € shows a positive potential of 42.28% compared to the current price of 73.8 € for Alibaba Group Holding Ltd ADR.
