Alibaba Group Holding Limited (BABA) Posts Earnings Results, Beats Expectations By $0.29 EPS
Alibaba Group Holding Limited (NYSE:BABA) issued its quarterly earnings data on Thursday. The specialty retailer reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.29, Briefing.com reports. Alibaba Group Holding Limited had a return on equity of 16.85% and a net margin of 28.77%. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $7.86 billion. During the same quarter last year, the business posted $0.79 earnings per share.
A number of brokerages recently issued reports on BABA. BidaskClub upgraded Alibaba Group Holding Limited from a “hold” rating to a “buy” rating in a research report on Thursday. Barclays PLC increased their price objective on Alibaba Group Holding Limited from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday. Vetr cut Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $197.98 target price on the stock. in a research note on Monday. SunTrust Banks, Inc. reissued a “buy” rating and issued a $205.00 target price on shares of Alibaba Group Holding Limited in a research note on Friday, October 20th. Finally, KeyCorp set a $182.00 target price on Alibaba Group Holding Limited and gave the company a “buy” rating in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company. Alibaba Group Holding Limited currently has a consensus rating of “Buy” and an average target price of $181.89.
Alibaba Group Holding Limited Company Profile
Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.
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