Stock Market Cafe
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Stock Market Cafe
No Result
View All Result
Home Trading News

Alibaba stock just suffered the biggest 5-day selloff in its history, but Susquehanna analyst stays ‘positive’

by
November 25, 2021
in Trading News
0
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Shares of Alibaba Group Holding Ltd. bounced Wednesday, to put them on track to snap the worst five-day performance in their public history, as Susquehanna analyst Shyam Patil slashed his price target but continued to push his “positive” view on the China-based e-commerce giant.

The stock
BABA,
+2.14%

climbed 1.2% in afternoon trading, toward the first gain in six sessions.

RELATED POSTS

People are spending lots of money on makeup and beauty, and retailers are cashing in

Blumhouse’s ‘The Black Phone’ shows horror and original storytelling have a place at the box office

The stock had plunged 20.6% over the past five sessions to close Tuesday at the lowest price since Jan. 3, 2019. Some of the factors weighing on the stock included regulatory concerns and macroeconomic pressures in China, topped off with disappointing fiscal second-quarter results reported last week.

That five-day selloff was by far the biggest since the stock went public in September 2014. The previous weakest five-day run, prior to the current stretch of losses, was the 16.3% tumble through Aug. 20, 2021.

FactSet, MarketWatch

Susquehanna’s Patil lowered his stock price target to $200 from $310, but his new target still implies nearly 50% upside from current levels. He also reiterated the positive rating he’s had on Alibaba at least since February 2020.

“[Alibaba] has been dealing with regulatory overhang, and now the slowing macro in China is pressuring the business in the near-term,” Patil wrote in a note to clients. “Although COVID may continue to cause periods of softness in the near-term macro, we continue to view [Alibaba] as the China e-commerce category killer with a large secular growth opportunity and maintain our long-term-oriented positive view.”

Of the 52 analysts surveyed by FactSet who cover Alibaba, no less than 36 have cut their stock price targets since Alibaba reported earnings on Nov. 18. That has lowered the average price target to $201.46 from $236.98 at the end of October.

FactSet

Meanwhile, 47 of those analysts, or 90%, are bullish on the stock, up from 89% at the end of October. Of the five analysts who aren’t bullish, only one is bearish and the other four are neutral.

Alibaba shares have plunged 51.7% over the past year, while the iShares MSCI China exchange-traded fund MCHI has dropped 17.7% and the S&P 500 index SPX has rallied 29.0%. Some analysts have pointed to Alibaba’s investor day, which kicks off on Dec. 16, as a potential important catalyst for the stock going forward.

Also read: How to Invest: These are the most important things to check on a stock’s quote page before deciding whether to buy or sell.

Separately, Susquehanna’s Patil also reiterated his positive rating on China-based search-engine giant Baidu Inc.
BIDU,
+0.60%
,
while cutting his stock price target to $175 from $200.

While the company continues to be cautious around the pandemic situation, Patil said his long-term bullish view remains unchanged, as he sees the company as a “leading player in China’s search market, a key player in the feeds market, owner of one of the top video assets in the country and the clear market leader in AI applications.”

The stock slipped 0.1% in midday trading Wednesday. Although it was still up 11.9% over the past 12 months, it has lost more than half its value since closing at a record $339.91 on Feb. 19.

Patil also stayed neutral on China-based e-commerce company JD.com Inc.
JD,
-0.11%
,
but raised his stock price target to $95 from $80 in the wake of “solid” third-quarter results, as he sees potential for longer-term upside from its advertising and logistics initiatives and the company’s ability to successfully incubate new businesses.

JD.com’s stock fell 0.6% on Wednesday. It has run up 18.2% over the past three months but has slipped 1.0% over the past year.

ShareTweetPin

Related Posts

People are spending lots of money on makeup and beauty, and retailers are cashing in

by
August 14, 2022
0

Target has added new brands to its beauty department. At a growing number of stores, it also has mini Ulta...

Blumhouse’s ‘The Black Phone’ shows horror and original storytelling have a place at the box office

by
August 14, 2022
0

Ethan Hawke stars in Blumhouse and Universal's "The Black Phone." Universal Any apprehension Jason Blum had about the future of...

Saudi Billionaire Made $500 Million Russia Bet Near War’s Onset

by
August 14, 2022
0

',panelEmptyTemplate=' {emptyPanelMsg} ',panelErrorTemplate=' {errorMsg} ',panelParentTemplate='',notifOnboardPromoTemplate='',EXPANDED_PANEL="expanded_panel",ERROR_PANEL="error_panel",NotificationView=function(){function e(n,t){classCallCheck(this,e);var i=this;i._config=n,i._panelNode=null,i._store=t}return createClass(e,[{key:"_generatePanelMarkup",value:function(e,n){var t=this._config,i=void 0,o=void 0;"undefined"!=typeof window&&(i=window.Notification&&"default"===window.Notification.permission,o=t.promos.bypassEligibleClassCheck||hasClass(document.body,t.promos.eligibleBodyClass));var r=t.promos.enableNotifOnboard&&i&&o?notifOnboardPromoTemplate:"";if(r){var s=t.promos.showYahooLogo?"":"yns-no-logo";r=r.replace("{notifOnboardBtnLabel}",t.promos.notifOnboardBtnLabel).replace("{notifOnboardMsg}",t.promos.notifOnboardMsg).replace("{subscriptionTopic}",t.promos.subscriptionTopic).replace("{noLogoClass}",s).replace("{promoLogo}",t.promos.promoLogo)}var a=n.newCount>t.panel.maxCount?n.newCount:"",c=t.panel.notificationCenterPath,l=c?"":constants.panelHideElement,d=t.panel.headerMsg?"":" "+constants.panelHideElement,u=c?constants.panelPaddingBtm:"",p=void 0;n.count?p=n.markup:p=panelEmptyTemplate.replace("{emptyPanelMsg}",t.panel.emptyPanelMsg);return e=e.replace("{notifMarkup}",p).replace("{promoMarkup}",r).replace("{hideClass}",l).replace("{notifCenterLink}",c).replace("{paddingClass}",u).replace("{headerMsg}",t.panel.headerMsg).replace("{hideHeaderClass}",d).replace(/{notificationCenterNavMsg}/g,t.panel.notificationCenterNavMsg).replace(/{newCount}/g,a)}},{key:"render",value:function(e,n){var t=this;if(t._panelNode){var i=void...

U.S. lawmakers arrive in Taiwan with China tensions simmering

by
August 14, 2022
0

In this photo released by the Taiwan Ministry of Foreign Affairs, from left, U.S. Democratic House member Alan Lowenthal from...

Man killed himself after ramming U.S. Capitol barrier

by
August 14, 2022
0

A man drove his car into a barricade near the U.S. Capitol early Sunday and then began firing gunshots in...

Next Post

You just inherited an IRA — what to do now and how not to mess up

Biden’s new Fed could be a boon for crypto, experts say

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Crocs sees fourth-quarter sales up 42%, CEO Andrew Rees says 2021 was ‘exceptional year’

    0 shares
    Share 0 Tweet 0
  • Buying a car from the factory sounds expensive, but it can actually save you money. Here’s how to do it.

    0 shares
    Share 0 Tweet 0
  • Roth TSP vs. Roth IRA: How Do They Compare?

    0 shares
    Share 0 Tweet 0
  • The states that won’t tax military retirement in 2022

    0 shares
    Share 0 Tweet 0
  • Biden didn’t accept Putin’s ‘red lines’ on Ukraine – here’s what that means

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.stockmarket-cafe.com
No Result
View All Result
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.stockmarket-cafe.com