11 AI Stocks On Wall Street’s Radar

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8. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 107

Alibaba Group Holding Limited (NYSE:BABA) is an internet giant that offers e-commerce services in China and internationally. On May 19, Susquehanna analyst Shyam Patil reiterated a “Positive” rating on the stock with a $175.00 price target. The rating update follows the company’s fourth-quarter results, which were a tale of mixed performance. Revenue for the company was 236.45 billion yuan, falling short of the 237.24 billion yuan expected by analysts. Despite the miss, the firm’s outlook for Alibaba remains unchanged. The analysts believe that the stock’s current valuation doesn’t fully reflect its growth prospects and market potential. This is particularly true in the context of ongoing investment in artificial intelligence and the Chinese e-commerce sector.

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