Analysts Expect Alibaba Group Holding Limited (BABA) Will Announce Quarterly Sales of $7.02 Billion

Equities research analysts expect Alibaba Group Holding Limited (NYSE:BABA) to announce $7.02 billion in sales for the current quarter, Zacks reports. Six analysts have made estimates for Alibaba Group Holding Limited’s earnings, with estimates ranging from $6.87 billion to $7.26 billion. Alibaba Group Holding Limited reported sales of $4.84 billion during the same quarter last year, which would suggest a positive year over year growth rate of 45%. The company is expected to issue its next earnings report before the market opens on Thursday, August 17th.

According to Zacks, analysts expect that Alibaba Group Holding Limited will report full-year sales of $7.02 billion for the current financial year, with estimates ranging from $33.44 billion to $34.69 billion. For the next year, analysts expect that the company will post sales of $45.19 billion per share, with estimates ranging from $42.82 billion to $47.80 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Alibaba Group Holding Limited.

Alibaba Group Holding Limited (NYSE:BABA) last announced its earnings results on Thursday, May 18th. The specialty retailer reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.01. Alibaba Group Holding Limited had a return on equity of 15.40% and a net margin of 27.51%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the previous year, the company posted $0.47 EPS.

BABA has been the topic of a number of research analyst reports. BidaskClub downgraded shares of Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) set a $179.00 price target on shares of Alibaba Group Holding Limited and gave the stock a “buy” rating in a report on Friday, June 9th. Benchmark Co. initiated coverage on shares of Alibaba Group Holding Limited in a report on Tuesday, April 18th. They issued a “buy” rating and a $140.00 price target on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $120.00 price target on shares of Alibaba Group Holding Limited in a report on Tuesday, May 23rd. Finally, CIBC boosted their price target on shares of Alibaba Group Holding Limited from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $140.99.

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Alibaba Group Holding Limited (NYSE:BABA) opened at 157.50 on Wednesday. The company’s 50-day moving average is $147.55 and its 200 day moving average is $120.38. Alibaba Group Holding Limited has a one year low of $84.30 and a one year high of $160.39. The firm has a market cap of $398.48 billion, a PE ratio of 62.75 and a beta of 2.64.

Alibaba Group Holding Limited announced that its Board of Directors has initiated a stock buyback program on Thursday, May 18th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

A number of hedge funds have recently modified their holdings of the company. Wilbanks Smith & Thomas Asset Management LLC raised its stake in Alibaba Group Holding Limited by 0.9% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 2,563 shares of the specialty retailer’s stock worth $276,000 after buying an additional 23 shares during the period. Ronald Blue & Co. LLC raised its stake in Alibaba Group Holding Limited by 0.7% in the second quarter. Ronald Blue & Co. LLC now owns 3,458 shares of the specialty retailer’s stock worth $487,000 after buying an additional 25 shares during the period. Cornerstone Advisors Inc. raised its stake in Alibaba Group Holding Limited by 1.3% in the second quarter. Cornerstone Advisors Inc. now owns 2,259 shares of the specialty retailer’s stock worth $318,000 after buying an additional 30 shares during the period. Comerica Securities Inc. raised its stake in Alibaba Group Holding Limited by 1.9% in the first quarter. Comerica Securities Inc. now owns 2,527 shares of the specialty retailer’s stock worth $272,000 after buying an additional 47 shares during the period. Finally, Mosaic Family Wealth LLC raised its stake in Alibaba Group Holding Limited by 2.9% in the second quarter. Mosaic Family Wealth LLC now owns 1,852 shares of the specialty retailer’s stock worth $261,000 after buying an additional 52 shares during the period. 36.75% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Holding Limited Company Profile

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

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