Alibaba (BABA - Free Report) shares soared 8% in the last trading session to close at $90.55. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.7% loss over the past four weeks.
Alibaba extended its rally, driven by the latest conclusion of probe against its affiliate, Ant Group. Notably, Chinese authorities ended the investigation of Ant Group that began in late 2020.
This online retailer is expected to post quarterly earnings of $1.87 per share in its upcoming report, which represents a year-over-year change of +6.9%. Revenues are expected to be $31.27 billion, up 1.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Alibaba, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BABA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Alibaba belongs to the Zacks Internet - Commerce industry. Another stock from the same industry, Coupang, Inc. (CPNG - Free Report) , closed the last trading session 0.3% lower at $16.72. Over the past month, CPNG has returned 4.7%.
For Coupang, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.06. This represents a change of +250% from what the company reported a year ago. Coupang, Inc. currently has a Zacks Rank of #3 (Hold).
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Alibaba (BABA - Free Report) shares soared 8% in the last trading session to close at $90.55. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.7% loss over the past four weeks.
Alibaba extended its rally, driven by the latest conclusion of probe against its affiliate, Ant Group. Notably, Chinese authorities ended the investigation of Ant Group that began in late 2020.
This online retailer is expected to post quarterly earnings of $1.87 per share in its upcoming report, which represents a year-over-year change of +6.9%. Revenues are expected to be $31.27 billion, up 1.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Alibaba, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BABA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Alibaba belongs to the Zacks Internet - Commerce industry. Another stock from the same industry, Coupang, Inc. (CPNG - Free Report) , closed the last trading session 0.3% lower at $16.72. Over the past month, CPNG has returned 4.7%.
For Coupang, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.06. This represents a change of +250% from what the company reported a year ago. Coupang, Inc. currently has a Zacks Rank of #3 (Hold).
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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