Zacks assigned Alibaba (BABA) a Zacks Rank #5 (Strong Sell) designation, citing substantial negative revisions to both current-quarter and full-year earnings estimates, leading the stock to trade slightly lower in after-hours.
- The stock is trading at $155.40 (-0.96%) in after-hours, modestly below its recent closing prices.
- Current-quarter EPS is now expected at $2.24 (down -23.6% year over year), while full-year EPS estimates were cut by -28.1% over the past 30 days.
- Despite sales being forecast to grow by +7.7% to $41.33 billion this quarter, the company received a valuation grade of F, screening as expensive versus peers.