Wall Street analysts expect Alibaba Group Holding Ltd (NYSE:BABA) to report sales of $16.82 billion for the current quarter, according to Zacks. Seven analysts have issued estimates for Alibaba Group’s earnings, with estimates ranging from $16.06 billion to $17.24 billion. Alibaba Group posted sales of $12.40 billion during the same quarter last year, which suggests a positive year over year growth rate of 35.6%. The company is expected to announce its next earnings report on Friday, November 1st.
On average, analysts expect that Alibaba Group will report full year sales of $73.46 billion for the current fiscal year, with estimates ranging from $71.64 billion to $75.42 billion. For the next fiscal year, analysts anticipate that the company will post sales of $96.28 billion, with estimates ranging from $90.59 billion to $102.64 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Alibaba Group.
Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, August 15th. The specialty retailer reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.32. The business had revenue of $114.92 billion for the quarter, compared to analysts’ expectations of $111.65 billion. Alibaba Group had a net margin of 24.40% and a return on equity of 14.36%. The business’s revenue for the quarter was up 42.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS.
A number of research firms have recently issued reports on BABA. Macquarie set a $226.00 price objective on shares of Alibaba Group and gave the company a “buy” rating in a research note on Wednesday, June 19th. KeyCorp upped their price target on shares of Alibaba Group from $240.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Mizuho upped their price target on shares of Alibaba Group from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. SunTrust Banks reaffirmed a “positive” rating and set a $210.00 price target (up from $205.00) on shares of Alibaba Group in a research note on Thursday, August 15th. Finally, Jefferies Financial Group assumed coverage on shares of Alibaba Group in a research note on Monday, August 5th. They issued a “buy” rating and a $216.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $219.92.
BABA stock traded up $0.93 during mid-day trading on Tuesday, reaching $179.17. The company had a trading volume of 9,469,878 shares, compared to its average volume of 16,190,553. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $445.24 billion, a PE ratio of 49.91, a price-to-earnings-growth ratio of 1.07 and a beta of 2.28. The firm has a 50 day moving average of $170.04 and a 200 day moving average of $173.28. Alibaba Group has a 12 month low of $129.77 and a 12 month high of $195.72.
Institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. lifted its position in Alibaba Group by 204.2% during the second quarter. Invesco Ltd. now owns 32,935,629 shares of the specialty retailer’s stock valued at $5,580,942,000 after buying an additional 22,110,348 shares in the last quarter. BlackRock Inc. lifted its position in Alibaba Group by 9.5% in the 2nd quarter. BlackRock Inc. now owns 78,533,960 shares of the specialty retailer’s stock valued at $13,307,578,000 after acquiring an additional 6,830,518 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Alibaba Group by 9.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 65,655,896 shares of the specialty retailer’s stock valued at $11,125,391,000 after acquiring an additional 5,932,300 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Alibaba Group by 7,972.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,418,892 shares of the specialty retailer’s stock valued at $748,781,000 after acquiring an additional 4,364,152 shares in the last quarter. Finally, Thoroughbred Financial Services LLC lifted its position in Alibaba Group by 17,466.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 4,207,884 shares of the specialty retailer’s stock valued at $420,788,000 after acquiring an additional 4,183,930 shares in the last quarter. 44.23% of the stock is currently owned by hedge funds and other institutional investors.
Alibaba Group Company Profile
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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