These Analysts Slash Their Forecasts On Alibaba Following Weak Q3 Results

Alibaba Group Holding Ltd. reported fiscal Q3 revenue of $40.73 billion, a 2% year-over-year increase, but fell short of the analyst consensus estimate of $41.26 billion. Adjusted earnings per American Depositary Share (ADS) were $1.01, missing expectations of $1.73. Following the results, several analysts adjusted their price targets: Baird lowered its target from $174 to $164, while Barclays and Mizuho both cut theirs from $195 to $190. Alibaba shares decreased by 0.1% to $124.82.