Alibaba Group Holding (NYSE:BABA) posted better-than-expected second-quarter results on Tuesday.
The company posted quarterly revenue of $34.81 billion, up 5% year-over-year, surpassing the analyst consensus estimate of $34.43 billion. The adjusted earnings per American Depositary Share (ADS) came in at 61 cents, topping the analyst consensus estimate of 49 cents.
Adjusted net income declined 72% to $1.45 billion, while adjusted EBITA slipped 78% year-over-year to $1.27 billion, reflecting investments in Taobao Instant Commerce and enhancements to user experiences, acquisitions, and technology.
Alibaba shares gained 1.3% to trade at $159.02 on Wednesday.
These analysts made changes to their price targets on Alibaba following earnings announcement.
- Bernstein analyst Robin Zhu maintained Alibaba with an Outperform rating and lowered the price target from $200 to $190.
- Barclays analyst Jiong Shao maintained the stock with an Overweight rating and raised the price target from $190 to $195.
- JP Morgan analyst Alex Yao maintained Alibaba with an Overweight rating and lowered the price target from $240 to $230.
Considering buying BABA stock? Here’s what analysts think:
Read This Next:
- Wall Street’s Most Accurate Analysts Give Their Take On 3 Defensive Stocks Delivering High-Dividend Yields
Photo via Shutterstock