Alibaba Group (NYSE:BABA) Posts Earnings Results, Beats Estimates By $13.19 EPS

Alibaba Group (NYSE:BABA) released its earnings results on Friday. The specialty retailer reported $15.06 EPS for the quarter, beating the consensus estimate of $1.87 by $13.19, Briefing.com reports. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. During the same period in the prior year, the business earned $1.82 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis.

Alibaba Group Stock Performance

Alibaba Group stock traded down $0.57 during mid-day trading on Monday, hitting $88.02. 4,484,223 shares of the company’s stock traded hands, compared to its average volume of 17,636,059. The stock has a market cap of $210.75 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 0.39 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. Alibaba Group has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The firm has a 50 day simple moving average of $98.18 and a two-hundred day simple moving average of $85.70.

Analyst Upgrades and Downgrades

BABA has been the topic of a number of research reports. Barclays raised their price target on shares of Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Truist Financial decreased their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Morgan Stanley restated an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a research note on Friday, August 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. Finally, Bank of America raised their price target on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.53.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.