Alibaba's Cloud And Digital Commerce Segment Performance Drive Analyst Optimism After Q1 Earnings
Portfolio Pulse from Anusuya Lahiri
Alibaba's stock gained after multiple analysts raised their price forecasts following the company's mixed fiscal first-quarter earnings. Revenue growth was 4% year-on-year to $33.47 billion, missing estimates, but adjusted earnings per ADS of $2.26 topped expectations. Analysts from Citigroup, JP Morgan, Bernstein, Baird, Truist Financial, and Benchmark provided various ratings and price targets, reflecting optimism about Alibaba's market share stabilization and growth potential in cloud and digital commerce segments.
August 16, 2024 | 3:40 pm
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Alibaba's stock gained after multiple analysts raised their price forecasts following the company's mixed fiscal first-quarter earnings. Revenue growth was 4% year-on-year to $33.47 billion, missing estimates, but adjusted earnings per ADS of $2.26 topped expectations. Analysts see growth potential in cloud and digital commerce segments.
The stock price of Alibaba (BABA) is likely to go up in the short term due to the positive sentiment from multiple analysts raising their price targets despite mixed earnings results. The company's growth potential in cloud and digital commerce segments is seen as a positive driver.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100