Mizuho Securities Maintains a Buy on Alibaba Group Holding (BABA)

Alibaba Group Holding Limited (NYSE:BABA) is one of the best stocks to invest in for the long term. In a report released on July 24, Wei Fang from Mizuho Securities maintained a Buy rating on Alibaba Group Holding Limited (NYSE:BABA) with a price target of $149.00.

Alibaba (BABA) Soars 8% on US Chip Exports Ease to China

An e-commerce platform displaying a wide range of products to customers online.

Alibaba Group Holding Limited’s (NYSE:BABA) financial results for the quarter and fiscal year ended March 31 reflected the positive effects of its ‘user first, AI-driven’ strategy.

Cloud Intelligence Group’s quarterly revenue growth rose to 18%, attributed to the strong demand for AI. AI-related product revenue attained triple-digit growth for the seventh consecutive quarter.

The company also reported a revenue growth of 7% and EBITA growth of 36% in the quarter.

Alibaba Group Holding Limited (NYSE:BABA) manages and provides technology infrastructure and marketing platforms. It operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others segments.

While we acknowledge the potential of BABA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BABA and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.