JD.com stock price is about to form an uptrend
JD.com (NASDAQ: JD) The share price has stabilized since the start of this year after experiencing a massive selloff in the second half of 2018. The rebound is supported by improving sentiments for the China-state trade deal -United. Plus, substantial income and profits add to a bullish attitude.
Although JD.com’s stock price has risen 58% year-to-date, JD shares are still down significantly from the all-time high of $ 45 it hit in early 2018. Market experts believe that the JD.com share price has the potential to be exceeded. previous historical record. Falling valuations are also likely to support the bullish momentum.
Q3 Beat Could Help JD.com Stock Price To Form An Uptrend
The internet retailer topped third-quarter revenue and profit estimates by $ 58 million and $ 0.12 per share, respectively. Its third-quarter revenue of $ 18.9 billion was up 28% from the previous year. Revenue growth of 47% from services helped boost revenue analysts’ estimates.
Annual active accounts receivable stood at 334.4 million at the end of the third quarter, compared to 321.3 million in the same period last year. The internet retailer has also seen a huge increase in the number of active mobile users.
The President and CEO said: “More and more consumers in fast growing Chinese cities are turning to JD for our superior value and service. We will continue to invest in technology and innovation to meet the growing needs of Chinese consumers and businesses.
Outlook points to further financial growth
The company plans to expand its revenue base in the last quarter of this year. He expects fourth quarter revenue to increase 25% from last year.
Sustained revenue growth could also improve its earnings and cash-generating potential. Overall, the JD.com share price is well positioned to generate gains for investors with limited downside potential. Therefore, analysts suggest buying JD shares before a big rally.