The stock of Alibaba Group Holding Limited (BABA) closed the regular trading session at $77.76, losing 10.32% from the previous trading session. On the last check, the BABA stock remained bearish in the pre-market and lost 6.26% to $72.89. The stock price kept moving between $77.31 and $81.95. BABA plummeted after the analyst at JP Morgan downgraded the stock. Also, the company published the fiscal performance for Q4 of FY2021. In December 2021, BABA also declared the carbon neutrality task.
Alibaba Group Holding Ltd works in the web and direct advertising retail industry. The organization gives the innovation framework and advertising reach to help shippers, brands, and different organizations to use the force of innovation to draw in with clients. The company has a market capitalization of $210.80 billion. Also, BABA has its headquarter in Hangzhou, Zhejiang, China.
In February 2022, with an end goal to support the International Olympic Committee’s (IOC) digitalization endeavors, Olympic Winter Games Beijing 2022 effectively moved its games innovation administrations to Alibaba Cloud. The shift happened due to the background of the Covid pandemic. It was to make a more secure, productive, supportable, and comprehensive experience for members and crowds around the world. The CEO of BABA commented that the Olympic Winter Games Beijing 2022 will be associated with the new benchmarks it had set for driving a more proficient, practical, and comprehensive Olympic Games. He further added that they were pleased to support the digitalization of the Olympic Games.
Moreover, in December 2021, BABA declared its goal for carbon neutrality by 2030. The firm company expects to present a Scope 3+ objective. It is a spearheading drive planning to work with 1.5 gigatons of decarbonization across its business system by 2035.
Alibaba Group also published the fiscal performance for Q4 of FY2021. The highlights are
- Total sales of ¥5 million in Q4 of FY21 versus ¥221.0 million in the same period of last year.
- The total income of the company was reported to be ¥2 million compared to ¥77.9 million in Q4 of FY20.
- Also, the EPS of BABA in Q4 of FY21 was ¥94 against ¥3.61 in Q4 of FY20.
What does the analyst say?
On 14 March 2022, the analyst at JP Morgan downgraded the stock rating from overweight to underweight, setting a target price to $65. Besides, the analyst at UBS, Stifel, Citigroup, and BofA securities reiterated the stock rating to buy. UBS changed the target price from $165 to $150, while Stifel changed the target price from $150 to $135. The analyst a Citigroup lowered the target price from $216 to $200. Also, the analyst at BofA securities lowered the target price from $203 to $193.