These Analysts Slash Their Forecasts On Alibaba Following Weak Q3 Results
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Alibaba Group (BABA) reported disappointing Q3 results, with revenue of $40.73B, missing estimates, and adjusted EPS of $1.01 below the expected $1.73. Despite a 2% year-over-year revenue increase, analysts have revised their price targets downwards. Baird's target is now $164, Barclays' is $190, and Mizuho's is also $190. CEO Eddie Wu emphasized AI as a key growth driver, with Cloud Intelligence revenue up 36%. Following the earnings report, Alibaba shares fell 0.1% to $124.82.
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