Alibaba Group Holding Limited (NYSE: BABA) is an online wholesale and retail giant in China. Its businesses also include cloud computing, digital media, consumer services, entertainment, and content platforms. It is headquartered in Hangzhou, China. Of late, the $302.1-billion company is dealing with the adverse impacts of the revival in Covid-19 cases in the country. The American Depository Receipts (ADRs) of Alibaba have declined 3.6% year-to-date. The closing price was $116 on July 1 (Friday). Despite the weak price performance, analysts on TipRanks are optimistic about the prospects of this Chinese company. On TipRanks, Alibaba has a Strong Buy consensus rating based on 17 Buys and two Holds.
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