27-Mar-2024
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Alibaba (BABA) Gets a Buy from Truist Financial
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Alibaba is the world's largest online and mobile commerce company as measured by gross merchandise volume. It operates China's online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer). The China commerce retail division is the most valuable cash flow-generating business at Alibaba. Additional revenue sources include China commerce wholesale, international commerce retail/wholesale, local consumer services, cloud computing, digital media and entertainment platforms, Cainiao logistics services, and innovation initiatives/other.
Alibaba Gr Holding trades on the NYSE stock market under the symbol BABA.
As of March 27, 2024, BABA stock price climbed to $71.59 with 11,882,148 million shares trading.
BABA has a beta of 1.09, meaning it tends to be more sensitive to market movements. BABA has a correlation of 0.13 to the broad based SPY ETF.
BABA has a market cap of $178.97 billion. This is considered a Large Cap stock.
Last quarter Alibaba Gr Holding reported $37 billion in Revenue and $2.67 earnings per share. This fell short of revenue expectation by $-71 million and missed earnings estimates by -$.02.
In the last 3 years, BABA stock traded as high as $245.69 and as low as $58.01.
The top ETF exchange traded funds that BABA belongs to (by Net Assets): AVEM, AIQ, XNTK, PNQI, PGJ.
BABA has underperformed the market in the last year with a price return of -17.5% while the SPY ETF gained +33.9%. BABA has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -5.6% and -5.9%, respectively, while the SPY returned +10.3% and +1.5%, respectively.
BABA support price is $70.29 and resistance is $72.67 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BABA stock will trade within this expected range on the day.