5 Best Diversified Stocks to Buy Now

3. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 113

Alibaba Group Holding Limited (NYSE:BABA) is a Chinese multinational company. Its operations include e-commerce, cloud computing, digital media and entertainment, financial services, and logistics and delivery. It was founded in 1999 and is headquartered in Hangzhou, China.

On March 17, Susquehanna reaffirmed a Positive rating on Alibaba Group Holding Limited (NYSE:BABA)’s shares and lowered the price target to $175 from $185. The firm considers the corporation to be China’s leading e-commerce company with a sizeable secular growth opportunity.

Here is what Artisan Partners had to say about Alibaba Group Holding Limited (NYSE:BABA) in its Q4 2022 investor letter:

“Finally, within our technology theme, an area that we have trimmed heavily over the year, we exited Alphabet due to deteriorating fundamentals and reinitiated a position in Alibaba Group Holding Limited (NYSE:BABA), a stock we have owned previously, as it enters a new phase in its history, one most likely without founder Jack Ma after he became a lightning rod for the Chinese government’s technology crackdown beginning in late 2020. We are attracted to the company’s secular growth prospects in online and mobile commerce.”