Equities analysts predict that Alibaba Group Holding Limited (NYSE:BABA) will announce sales of $7.78 billion for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Alibaba Group Holding Limited’s earnings. The lowest sales estimate is $7.55 billion and the highest is $7.94 billion. Alibaba Group Holding Limited posted sales of $5.14 billion during the same quarter last year, which would indicate a positive year over year growth rate of 51.4%. The business is scheduled to issue its next earnings report before the market opens on Thursday, November 2nd.

On average, analysts expect that Alibaba Group Holding Limited will report full-year sales of $7.78 billion for the current year, with estimates ranging from $34.11 billion to $36.69 billion. For the next year, analysts forecast that the company will post sales of $47.96 billion per share, with estimates ranging from $45.57 billion to $50.76 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Alibaba Group Holding Limited.

Alibaba Group Holding Limited (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.21. Alibaba Group Holding Limited had a net margin of 28.77% and a return on equity of 16.85%. The business had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $7.16 billion. During the same period last year, the company posted $0.74 EPS.

BABA has been the subject of a number of research analyst reports. Vetr cut shares of Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $160.50 price objective for the company. in a research report on Tuesday, July 11th. Deutsche Bank AG reaffirmed a “buy” rating and set a $201.00 price objective (up from $158.00) on shares of Alibaba Group Holding Limited in a research report on Monday, July 3rd. BidaskClub cut shares of Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Instinet reaffirmed a “buy” rating on shares of Alibaba Group Holding Limited in a research report on Saturday, July 22nd. Finally, HSBC Holdings plc reaffirmed a “buy” rating and set a $168.00 price objective (up from $162.00) on shares of Alibaba Group Holding Limited in a research report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $180.09.

Shares of Alibaba Group Holding Limited (BABA) traded down 2.36% on Monday, hitting $173.13. 17,605,106 shares of the stock were exchanged. The company has a market cap of $440.27 billion, a P/E ratio of 57.46 and a beta of 2.60. Alibaba Group Holding Limited has a one year low of $86.01 and a one year high of $184.70. The firm’s 50-day moving average is $176.07 and its 200-day moving average is $146.94.

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A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Alibaba Group Holding Limited by 2,538.7% in the first quarter. BlackRock Inc. now owns 56,989,001 shares of the specialty retailer’s stock valued at $6,145,123,000 after acquiring an additional 54,829,289 shares during the last quarter. Capital Research Global Investors boosted its holdings in Alibaba Group Holding Limited by 2.2% in the second quarter. Capital Research Global Investors now owns 33,618,382 shares of the specialty retailer’s stock valued at $4,736,830,000 after acquiring an additional 738,281 shares during the last quarter. FMR LLC boosted its holdings in Alibaba Group Holding Limited by 42.5% in the second quarter. FMR LLC now owns 25,278,081 shares of the specialty retailer’s stock valued at $3,561,681,000 after acquiring an additional 7,544,165 shares during the last quarter. Jennison Associates LLC boosted its holdings in Alibaba Group Holding Limited by 3.3% in the second quarter. Jennison Associates LLC now owns 20,448,110 shares of the specialty retailer’s stock valued at $2,881,139,000 after acquiring an additional 661,109 shares during the last quarter. Finally, Capital World Investors boosted its holdings in Alibaba Group Holding Limited by 5.7% in the second quarter. Capital World Investors now owns 20,243,958 shares of the specialty retailer’s stock valued at $2,852,374,000 after acquiring an additional 1,091,620 shares during the last quarter. Institutional investors and hedge funds own 37.34% of the company’s stock.

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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