Alibaba's stock price rises 2.17%, expected to report positive earnings and revenue, confidence by analysts

From Nasdaq.: 2024-07-22 17:45:20

In the latest trading session, Alibaba (BABA) closed at $76.64, up 1.82%. Its shares have increased by 2.17% in the last month, beating the Retail-Wholesale sector. Alibaba is expected to report earnings of $2.24 per share and $34.95 billion in revenue. Analysts’ positive revisions reflect confidence in the company’s future performance.

Alibaba’s Zacks Rank of #4 (Sell) is based on its recent EPS estimate decrease of 0.05%. With a Forward P/E ratio of 9.18 and a PEG ratio of 0.39, Alibaba may be considered undervalued compared to its industry peers. The Internet – Commerce industry, in the Retail-Wholesale sector, is in the top 24% of over 250 industries.

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