Alibaba stock jumped more than 6% before the opening bell on Monday, June 2, 2026, pushing the price to $133.23. In Hong Kong, the stock closed the session up 6.6%, trading at HK$130.90.
Alibaba Group Holding Limited, BABA
The catalyst was the launch of Qwen3.7-Plus, an upgraded version of the company’s existing Qwen3.7 AI model. The new model is built for multimodal interactions, meaning it can handle both visual and language inputs in a single system.
$BABA : Alibaba-W (https://t.co/QFcSRvSbd7) Surges Over 5% Intraday as Qwen3.7-Plus Officially Launched by Its Subsidiary Tongyi Labs. pic.twitter.com/GzhOR4jH6n
— DZ (@dyz_ob) June 2, 2026
Qwen3.7-Plus can perceive real-world scenes and generate code based on visual references. That kind of cross-modal capability puts it in direct competition with AI models from other major technology companies.
The AI announcement landed alongside some other positive news. Alibaba confirmed a six-year partnership with UEFA to serve as its exclusive AI and cloud partner starting in 2027. The deal is set to include 360-degree replay technology and other AI-powered tools for live events.
That partnership extends Alibaba’s international enterprise footprint at a time when investors are closely watching its cloud revenue growth.
Several analysts responded to recent developments by raising their price targets on BABA. JPMorgan lifted its target from $200 to $205 with an “overweight” rating. Barclays moved its target from $186 to $195, also citing an “overweight” view. BNP Paribas initiated coverage with an “outperform” rating and a $209 target.
HSBC raised its target from $172 to $180, and Susquehanna moved from $170 to $185. The consensus target across the analyst community now sits at $188.76, with a “Moderate Buy” rating. Of the analysts covering the stock, two carry a “Strong Buy” rating and sixteen have a “Buy.”
The 12-month trading range for BABA is $103.71 on the low end and $192.67 on the high. The stock’s 50-day moving average is $130.82 and the 200-day sits at $146.14.
Institutional investors have been building positions. Northwestern Mutual grew its stake by 7,680% in Q4, taking its holding to over six million BABA units valued at roughly $881 million.
Capital World Investors grew its stake by more than 1,000% in Q3. Norges Bank entered a new position in Q4 worth approximately $594 million. Lingotto Investment Management also disclosed a new position of 17,100 units worth around $2.51 million.
Roughly 13.47% of BABA stock is currently held by institutional investors.
Alibaba also recently declared an annual dividend of $1.05 per unit, payable July 13, with a record date of June 11. The company’s last earnings report showed quarterly revenue of $35.30 billion.
Insider activity during the past three months has been on the selling side, with approximately $1.5 million in insider sales and no reported buying.
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