Alibaba beats revenue expectations as its cloud business soars

Alibaba beats revenue expectations as its cloud business soars

Alibaba beats revenue expectations as its cloud business soars

Its 52-week high and low range is between $6.61 and $4.73.

The prominent short seller recommended buying shares of the Chinese e-commerce giant prior to it quarterly earnings report, slated for before the opening bell on Friday.

"We are seeing significant traction and diversification of customers and revenue, and will continue to invest to further expand the market by developing value-added products and features", Alibaba said in the earnings report.

In case of Revenue Estimates, 23 analysts have provided their consensus Average Revenue Estimates for Alibaba Group Holding Limited as 9.3 Billion. Wall Street experts also assign a $217.63 price target on Alibaba Group Holding Limited, pointing towards a 19.28% rally from current levels.

The consensus recommendation, according to Zacks Investment research, is 1.12. On Thursday, February 1 Bank of America maintained Alibaba Group Holding Limited (NYSE:BABA) rating.

The firm is taking an option to buy one-third of Ant Financial, which resulted terminated a long-standing revenue-sharing agreement that some analysts believe to be worth as much as one billion RMB ($160 million) per quarter.

The company expects overall revenue growth above 60 percent for fiscal 2019, which reflects its confidence in core business as well as in new businesses. Alibaba Group had a return on equity of 17.61% and a net margin of 29.57%. (NYSE:BABA) has 22 ratings reports on 4 May 2018 according to StockzIntelligence.

Alibaba Group Holding Limited on 12/30/2017 reported its EPS as $0.69 with the analysts projecting the EPS of the stock as $0.71. Finally, Raymond James increased their price objective on shares of Alibaba Group to $240.00 and gave the stock a "strong-buy" rating in a research report on Friday, February 2nd. Robert W. Baird maintained it with "Buy" rating and $210.0 target in Monday, November 13 report. The relative volume of the stock is 1.45, while its market cap is $448.98 Billion.

NYSE:BABA traded down $1.29 during trading hours on Friday, hitting $181.39. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.97 and a quick ratio of 1.97.

On a per-share basis, the Hong Kong-based company said it had profit of 46 cents. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Alibaba Group by 8,940.3% during the 4th quarter. Whereas, in last 21 trading days (one month) was surged 5.68% and surged in last 63 trading days (quarter) of 1.99%. Lenox Wealth Advisors Inc. raised its position in shares of Alibaba Group by 2,636.4% in the 4th quarter. It also reduced Allscripts Healthcare Solutn (NASDAQ:MDRX) stake by 1.40 million shares and now owns 2.46 million shares.

Revenue soared at Alibaba Group Holding Ltd (NYSE:BABA) during the latest quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Alibaba Group by 3.7% in the fourth quarter. The stock increased 0.55% or $1 during the last trading session, reaching $182.45.

Other hedge funds and other institutional investors have also modified their holdings of the company.

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Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally.

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