A Reversal for Alibaba Group Holding Ltd Is Not Near. The Stock Rises Again

The stock of Alibaba Group Holding Ltd (NYSE:BABA) is a huge mover today! The stock is up 3.27% or $2.25 after the news, hitting $71.07 per share. About 1.13M shares traded hands. Alibaba Group Holding Ltd (NYSE:BABA) has declined 17.12% since July 24, 2015 and is downtrending. It has underperformed by 10.03% the S&P500. The move comes after 7 months positive chart setup for the $183.63 billion company. It was reported on Mar, 1 by Barchart.com. We have $100.92 PT which if reached, will make NYSE:BABA worth $77.12B more.

Analysts await Alibaba Group Holding Ltd (NYSE:BABA) to reports earnings on May, 5. They expect $0.39 earnings per share, up 95.00% or $0.19 from last year’s $0.2 per share. BABA’s profit will be $1.01B for 45.56 P/E if the $0.39 EPS becomes reality. After $0.73 actual earnings per share reported by Alibaba Group Holding Ltd for the previous quarter, Wall Street now forecasts -46.58% negative EPS growth.

Out of 40 analysts covering Alibaba (NYSE:BABA), 36 rate it “Buy”, 1 “Sell”, while 4 “Hold”. This means 88% are positive. Alibaba was the topic in 60 analyst reports since August 12, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the stock on January 29 with “Outperform” rating. Brean Capital maintained the shares of BABA in a report on January 29 with “Buy” rating.

According to Zacks Investment Research, “Alibaba Group Holding Limited operates online and mobile marketplaces in retail and wholesale trade, as well as cloud computing and other services. It provides technology and services to enable consumers, merchants, and other participants to conduct commerce in its ecosystem. The Company operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online business-to-business marketplace; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace. Alibaba Group Holding Limited is headquartered in Hangzhou, the People’s Republic of China.”

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Add Comment