Shares of Alibaba have lost more than 22 percent since the start of 2015, culminating in a 52-week low of $57.20 back in November. On the other hand, Alibaba's stock has gained around 28 percent over the past three months, and the Vetr Crowd still recognizes the potential for further upside.
The Vetr Crowd upgraded their rating on Alibaba's stock to four stars out of a possible five stars on Monday. Shares of Alibaba remain popular among the Vetr Crowd, as more than 5 percent of users are holding the stock in their watch list. In addition, 64 percent of the Crowd's ratings are bullish, and the crowdsourced price target of $86.71 implies a further upside just shy of 9 percent.
The Wisdom Of The Crowd
Bowen Wang, a member of the Crowd, argued that the Chinese stock markets are no longer in bear territory and "another round of bull is coming."
Alibaba's market cap of $200 billion makes it one the largest global e-commerce and Internet plays. One of its closest peers, Amazon.com, Inc. AMZN is also highly regarded by the Vetr Crowd.
At first glance, the Vetr Crowd appears to be equally bullish on Amazon, given a similar four-star rating out of a possible five and a crowdsourced price target of $703.21, implying an almost identical 9 percent upside.
However, where the two names differ is in the Crowd's ratings, as 65.4 percent of the Crowd recommends a Sell rating on Amazon's shares and only 24.4 percent recommend a Buy rating. The remaining 10.2 percent are neutral with a Hold rating.
Nudnikmeow, a member of the Vetr Crowd, appropriately pointed out that Amazon's stock has already "moved so much" and suggested that a "bearish/neutral" stance is more appropriate for the short term.
Image Credit: Rico Shen [GFDL or CC BY-SA 4.0-3.0-2.5-2.0-1.0], via Wikimedia Commons© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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