Alibaba stock closed slightly higher than previous day, but underperformed S&P 500 and Dow

From Nasdaq: 2024-07-16 17:45:17

Alibaba (BABA) closed at $78.38, up 0.47% from the previous day, while the S&P 500 and Dow saw bigger gains. The company is expected to report an EPS of $2.24, a 6.67% decrease, and revenue of $34.95 billion, an 8.22% increase. Full-year estimates project earnings of $8.20 per share and revenue of $138.63 billion.

Alibaba currently has a Forward P/E ratio of 9.52, lower than the industry average of 22.35. The PEG ratio is 0.41, signaling undervaluation compared to the sector’s average. The Internet – Commerce sector ranks in the top 24% of industries, while Zacks Research suggests that top-rated industries outperform lower-rated ones by 2 to 1.

Investors should keep an eye on analyst estimate revisions for Alibaba, as they can impact stock prices. Zacks Rank #4 (Sell) currently applies to Alibaba. Monitoring these changes can provide insights into the company’s future performance. Visit Zacks.com for detailed stock metrics and recommendations from Zacks Investment Research.



Read more at Nasdaq: Here’s Why Alibaba (BABA) Gained But Lagged the Market Today