Alibaba Likely To Report Lower Q4 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
Alibaba Group Holding Limited (NYSE:BABA) is anticipated to report lower Q4 earnings with an expected EPS of $1.41, down from $1.5 year-over-year, but with a projected revenue increase to $30.40 billion from $29.15 billion. The company, in collaboration with Lenovo Group, is developing AI products. Shares rose 5.7% to $84.60 recently. Analysts from Truist Securities, JP Morgan, Mizuho, Susquehanna, and Baird have provided various ratings and price targets for Alibaba.
May 14, 2024 | 5:44 am
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Alibaba is expected to report lower Q4 earnings with a slight increase in revenue. The company's collaboration with Lenovo on AI products and recent share price increase reflect positive momentum. Analysts have adjusted their price targets, indicating a mixed but generally positive outlook.
The expected decrease in EPS could be seen negatively by investors, but the increase in revenue and the strategic partnership with Lenovo for AI product development could offset concerns. The recent share price increase and analyst ratings adjustments suggest a cautiously optimistic outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100