Shares of Alibaba Health Information Technology Limited (HKG:241), commonly known as ALI HEALTH, surged by 8.09% on October 18, 2024, driven by the company's impressive earnings growth and strong future prospects.
ALI HEALTH has been experiencing stellar earnings growth, with a remarkable 59% increase in earnings per share (EPS) over the past year and an impressive 109% overall rise in EPS over the last three years. This outstanding performance has fueled investor confidence and contributed to the stock's recent rally.
Furthermore, analysts covering the company expect ALI HEALTH's earnings to grow by a staggering 41% per annum over the next three years, significantly outpacing the broader market's forecast of 12% annual growth. This robust growth outlook justifies the company's high price-to-earnings (P/E) ratio of 61.9x, as investors anticipate continued strong performance from the healthcare technology firm.
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