Hedge funds assess Alibaba stock price prediction based on relative valuation against peers like JD.com and Pinduoduo, where multiples suggest Alibaba remains undervalued by 12% on forward PE. This big pharma stock isn't as cheap as Alibaba and Enterprise based on forward earnings multiples. However, Pfizer is a steal compared to several of its peers. I also think the current negative sentiment for the stock is way overdone. Nonetheless, Alibaba is expanding its consumption ecosystem and capturing the AI-driven cloud demand, which suggests that the momentum in its business and stock will likely sustain. Alibaba stock price prediction for mid-2024 sees potential consolidation between $75 and $85 per share, after recent volatility driven by mixed quarterly earnings and macroeconomic pressures. Institutional investor sentiment shows cautious optimism, with volume spikes on strong China retail data.