Alibaba Group Holding Ltd (BABA) Reports Solid Earnings – Shares up in Pre-Market

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Alibaba Group Holding Ltd (NYSE:BABA) reported earnings this morning, and they were better than many analysts and traders had expected. The company reported earnings per share of $0.99 on $5.33 billion in revenue, beating the consensus of $0.89 per share on $5.13 billion in revenue for the fiscal third quarter.

“We had excellent results this quarter,” said Alibaba Group chief financial officer Maggie Wu. “We achieved impressive revenue growth as we are increasingly monetizing the user activity on our marketplaces, particularly on mobile devices.”

Shares of Alibaba Group Holding Ltd (NYSE:BABA) are up $2.80 or 4.03% in the pre-market this morning following this report. The stock had been down close to 15% on the year, making this report a pleasant surprise to shareholders.The stock decreased 0.06% or $0.04 during the last trading session, hitting $69.5. Approximately 1.35 million shares traded hands. BABA shares have declined 18.27% since June 23, 2015 and are currently downtrending. It has underperformed the S&P500 by 9.40%.

From a total of 24 analysts covering Alibaba (NYSE:BABA) stock, 22 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 92% of the ratings are positive. The highest target price is $137 while the lowest target price is $80. The mean of all analyst targets is $93.92 which is 35.14% above today’s ($69.5) stock price. Alibaba was the topic of 51 analyst reports since August 12, 2015 according to the firm StockzIntelligence Inc. Robert W. Baird initiated shares on January 7 with a “Outperform” rating. Wedbush maintained shares with a”Neutral” rating and a $80 target share price in their report from an October 28. Standpoint Research downgraded BABA stock in a recent report from October 29 to a “Hold” rating. Axiom Capital maintained the rating on October 28. Axiom Capital has a “Buy” rating and a $92 price target on shares. Finally, RBC Capital Markets maintained the stock with a “Outperform” rating in a report they issued on an October 28.

Alibaba Group Holding Limited is a holding company. The company has a market cap of $174.71 billion. The Firm is principally engaged in online and mobile commerce through products, services and technology. It has 18.89 P/E ratio. The Firm provides retail and wholesale marketplaces available through both personal computer and mobile interfaces in the PRC and internationally.

#focuskw=’Alibaba Group Holding Ltd (NYSE:BABA)’##metadesc=’Alibaba Group Holding Ltd (NYSE:BABA) reported earnings this morning, and they were better than many analysts and traders had expected. The company reported earnings per share of $0.99 on $5.33 billion in revenue, beating the consensus of $0.89 per share on $5.13 billion in revenue for the fiscal third quarter.”We had excellent results this quarter,” said Alibaba Group chief financial officer Maggie Wu. “We achieved impressive revenue growth as we are increasingly monetizing the user activity on our marketplaces, particularly on mobile devices.”Shares of Alibaba Group Holding Ltd (NYSE:BABA) are up $2.80 or 4.03% in the pre-market this morning following this report. The stock had been down close to 15% on the year, making this report a pleasant surprise to shareholders.’##metarobot=’index’##newskw=’Zafgen Inc positive news,Zafgen Inc – (NASDAQ:ZFGN),NASDAQ:ZFGN Analyst rating analysis,Stock Analysis,Outlook and potential,ZFGN Price change and trend,ZFGN stock update’##sitemap=’include’##skipsocial##stockticker=’NYSE:BABA’#