5 Most Promising Stocks to Buy According to Analysts

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1. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 113

One-Year Average Price Estimate: $146.75

Alibaba Group Holding Limited (NYSE:BABA) shares are trading at $80 as of market close of March 15 while its one-year average price estimate stands at $146.75. This shows a huge upside potential from the current levels.

In February, Alibaba Group Holding Limited (NYSE:BABA) posted its fiscal Q3 results, which were better than expectations.

Adjusted EPS in the period came in at $2.79, beating estimates by $0.39. Revenue in the quarter increased by 2% on a YoY basis to reach $35.92 billion, beating estimates by $40 million. Alibaba Group Holding Limited (NYSE:BABA) said that it expects improvement in consumer sentiment and economic activity in the near future.

At the end of the fourth quarter of 2022, 113 hedge funds reported having stakes in Alibaba Group Holding Limited (NYSE:BABA), up from 105 funds in the previous quarter, according to Insider Monkey’s database. This shows the smart money piled into Alibaba Group Holding Limited (NYSE:BABA) in the last quarter of 2022 amid the reopening of the Chinese economy

Polen Capital made the following comment about Alibaba Group Holding Limited (NYSE:BABA) in its October investor letter:

“Alibaba Group Holding Limited (NYSE:BABA) is the leading e-commerce company in China. The stock was weak over the quarter as they reported a quarterly revenue decline. The company has been heavily impacted by the continued covid-19 lockdowns throughout China and the aggressive rate increases and deteriorating outlook for China’s economy have weighed heavily on the stock. The share price has also been under pressure due to the U.S. Securities and Exchange Commission’s plans to delist Chinese tech stocks in 2024 if they do not provide access to audit files.”

You can also take a peek at 12 Small Cap Stocks with Insider Buying and 12 Best EV Stocks To Buy For 2023.

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