🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Alibaba modestly gains while lagging behind major indices

EditorHari G
Published 10/31/2023, 04:01 AM
© Reuters.
US500
-
IXIC
-
US30
-
BABA
-

Chinese multinational conglomerate Alibaba (NYSE:BABA) closed at $83.14 on Monday, marking a modest gain of 0.39%. Despite this increase, the company's performance lagged behind major indices such as the S&P 500, Dow, and Nasdaq, which gained 1.2%, 1.58%, and 1.16% respectively.

Over the past month, Alibaba's stock has experienced a significant drop of 4.52%, which exceeds the losses of the Retail-Wholesale sector and the S&P 500, which lost 1.94% and 3.58% respectively.

Analysts are forecasting Alibaba's upcoming report to show earnings of $2.16 per share, reflecting an annual growth rate of 18.68%. The company's revenue is predicted to reach $31.39 billion, indicating a year-over-year rise of 7.77%.

For the full fiscal year, estimates place earnings at $8.99 per share and revenue at $133.21 billion, translating to growth rates of +13.22% and +5.68% respectively.

InvestingPro Insights

InvestingPro data and tips provide some additional context for Alibaba's current position in the market. The company's market capitalization stands at a robust $210.65 billion, with a P/E ratio of 21.46, reflective of its steady growth potential. As of Q1 2024, the company's revenue growth rate was 5.21%, indicating a steady increase in earnings.

From an InvestingPro Tips perspective, Alibaba boasts high earnings quality, with free cash flow exceeding net income. This is a strong indicator of the company's financial health. Additionally, the company's management has been aggressively buying back shares, showcasing their confidence in the firm's future. Another point worth noting is that Alibaba, a prominent player in the Broadline Retail industry, holds more cash than debt on its balance sheet, a positive sign for potential investors.

For those seeking more in-depth analysis and additional tips, the InvestingPro platform offers a total of 11 tips specific to Alibaba, aiding investors in making informed decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.