Alibaba stock rose 1.4% while market dropped; analysts predict positive earnings

From Nasdaq: 2024-04-01 17:45:21

Alibaba’s (BABA) stock closed at $73.37, up 1.4% while the S&P 500 dropped by 0.2% and the Dow lost 0.6%. Prior to today, Alibaba shares had declined 3.03% over the past month, trailing the sector’s gains. Analysts predict an EPS of $1.56 and revenue of $31.19 billion in the upcoming earnings report.

Investors should note recent analyst revisions for Alibaba as they indicate business performance trends. The Zacks Rank, ranging from #1 to #5, has been holding at #3 for Alibaba. The stock’s Forward P/E ratio is currently 8.16, lower than the industry average of 19.33. The Zacks Industry Rank for the Internet-Commerce sector is 59, in the top 24%.

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Read more at Nasdaq: Why the Market Dipped But Alibaba (BABA) Gained Today