These Analysts Boost Their Forecasts On Alibaba Following Q1 Results

Benzinga
09/02

Alibaba Group Holding (NYSE:BABA) posted better-than-expected revenue for the first quarter on Friday.

The company posted quarterly revenue of $34.57 billion, up 2% year-over-year, surpassing the consensus estimate of $34.26 billion. On a like-for-like basis, excluding revenue from the divested Sun Art and Intime businesses, Alibaba’s revenue would have grown 10% year-over-year.

Despite the top-line beat, adjusted earnings per American Depositary Share (ADS) came in at $2.06, falling short of the analyst consensus of $2.13.

Alibaba CEO Eddie Wu said the company drove strong growth by focusing on consumption and AI + Cloud, hitting milestones in quick commerce and boosting engagement across its platforms.

Alibaba shares rose 1.5% to trade at $137.01 on Tuesday.

These analysts made changes to their price targets on Alibaba following earnings announcement.

  • B of A Securities analyst Joyce Ju maintained Alibaba with a Buy and raised the price target from $135 to $152.
  • Mizuho analyst Jason Helfstein maintained the stock with an Outperform rating and raised the price target from $149 to $159.
  • Benchmark analyst Fawne Jiang maintained Alibaba with a Buy and raised the price target from $176 to $195.

Considering buying BABA stock? Here’s what analysts think:

Read This Next:

  • Top 2 Consumer Stocks That May Collapse In Q3

Photo via Shutterstock

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10