Alibaba Upgraded By Vetr Crowd, But 51% Of Users Still Bearish
- Shares of Alibaba Group Holding Ltd (NYSE: BABA) have lost nearly 20 percent year to date but gained more than 40 percent since bottoming at $57.20 in late September.
- The Vetr crowd upgraded Alibaba's stock rating to 3.5-stars out of a possible 5-stars.
- Despite an upgrade, 51 percent of the crowd's ratings are bearish.
Shares of Alibaba have gained more than 40 percent since it bottomed at $57.20 back in September. However, the issue is still lower by nearly 20 percent since the beginning of 2015.
The Vetr crowd upgraded their rating on Alibaba's stock to 3.5-stars out of a possible 5-stars. In fact, shares of Alibaba rose to $83.56 since the previous rating of 3.0-stars was issued just two days ago.
Alibaba remains a popular stock among the Vetr crowd as more than 5 percent of users are holding the stock in their-watch list. Meanwhile, the crowd-sourced price target of $87.36 implies a potential upside of 4.83 percent.
Despite an upgrade, 51 percent of the crowd's ratings are bearish given multiple ongoing concerns.
Michael Odere, a member of the Vetr crowd, commented that the Chinese market has been "erratic" and "unpredictable." Wen (Eva) Yin, another member of the Vetr crowd, pointed out that a recent partnership between Tencent and JD.Com Inc(ADR) (NASDAQ: JD) "goes straight for Alibaba's throat."
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On the other hand, the bullish members of the crowd cited valuation and the company's strong positioning in their respective point of views.
Savneet Singh accurately noted three months ago that Alibaba's stock "sold off too much" and there is "lots of value in this amalgamation." Finally, Michelle Thai pointed out that Amazon is "simultaneously the Amazon of China and the main middleman for export from China."
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