Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Alibaba Group Holding Ltd (NYSE: BABA) tanked more than 10 percent Thursday following its earnings report. Wall Street analysts are unanimously baffled. Wedbush thinks that Singles Day, when Alibaba sold more than $9 billion in one day, may have created unrealistic earnings expectations.
However, while quarterly results saw the stock price decline, it did not fundamentally change analysts’ views on the company. Analysts remain bullish, though as Credit Suisse said more “conservative” in their view.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Wedbush – Outperform, $115 price target
“We believe BABA offers a compelling combination of size, growth and profitability, on a global basis. Although the discussion has become more balanced between risk and reward, we expect shares to hold onto their premium valuation.”
Brean Capital – Buy, $110 price target from $115
“We view BABA as a market leader in China internet, where the company is transforming its business model from ecommerce services to a full-spectrum ecosystem providing everyday service elements to consumers and helping reshape and develop China and global commerce.”
SunTrust – Buy, $110 price target from $120
“While concerns (revs, gov't, lockup etc.) may weigh on shares near term, we think this is an opportunity for long-term investors, as shares remain attractively valued vs. growth.”
Credit Suisse – Outperform, $113 price target from $118
“We turn more conservative in near-term take-rate assumptions, but maintain our view that monetization rate continue to increase with better buyer experience and mobile ad roll-out. We see weakness as good buying opportunity.”
Shares traded recently at $89.28.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.