These Analysts Revise Their Forecasts On Alibaba After Q2 Results

Benzinga
Nov 27

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:

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