As of the latest trading day, Alibaba's stock price closed at one hundred thirty-nine dollars and ninety-five cents per share. The trading volume was approximately thirty-five million shares, which is slightly below average. This decrease in volume alongside a slight drop in stock price is generally seen as a positive indicator, as it suggests that the stock's movement is not overly speculative.
Recently, Alibaba's stock has experienced a notable rise, partly due to resolving regulatory issues and strengthening ties with the Chinese government. This has led to increased market confidence. Morgan Stanley upgraded Alibaba from equal weight to overweight, reflecting confidence in the company's artificial intelligence efforts and core businesses. The new price target set by Morgan Stanley is one hundred eighty dollars per share.
Alibaba's fourth-quarter earnings report showed strong performance, with earnings per share of two dollars and ninety-three cents, beating analyst predictions. Revenues reached thirty-eight billion dollars, highlighting growth in e-commerce and cloud services. Institutional support is also strong, with significant investments from notable figures like Ryan Cohen.
Analysts from Bernstein and Bank of America have boosted their price targets, acknowledging Alibaba's robust growth in cloud revenues and core business areas. The company's focus on artificial intelligence infrastructure and cloud expansion rather than global market enlargement is seen as a strategic move for future growth. Overall, Alibaba's stock is viewed positively in the short term, with potential for further rises as it navigates the evolving tech landscape.
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