Alibaba stock has returned -0.5% in past month, but positive earnings outlook

From Nasdaq:

Alibaba (BABA) stock performance has recently been closely monitored by Zacks.com visitors. Over the past month, the stock has returned -0.5% compared to the Zacks S&P 500 composite’s +3%. The Zacks Internet-Commerce industry, which Alibaba belongs to, has gained 1.6%. Earnings estimates show a positive outlook for Alibaba.

Analysts at Zacks prioritize evaluating changes in a company’s future earnings projections. For the current quarter, Alibaba is expected to post earnings of $1.56 per share, with a projected +11.6% year-over-year change for the current fiscal year. The Zacks Consensus Estimate remained stable over the last 30 days.

The Zacks Rank rates Alibaba as #3 (Hold), indicating a stable near-term outlook. With a positive revenue growth forecast and valuation metrics suggesting it is trading at a discount to its peers, Alibaba shows potential for future growth. Considerations of earnings estimate revisions are crucial in determining stock price movements.

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Read more at Nasdaq: Is Trending Stock Alibaba Group Holding Limited (BABA) a Buy Now?