Brokerages Expect Alibaba Group Holding Ltd (BABA) Will Post Quarterly Sales of $11.95 Billion
Wall Street analysts expect Alibaba Group Holding Ltd (NYSE:BABA) to report $11.95 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Alibaba Group’s earnings, with the lowest sales estimate coming in at $11.55 billion and the highest estimate coming in at $12.26 billion. Alibaba Group posted sales of $7.67 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 55.8%. The company is scheduled to announce its next quarterly earnings report on Tuesday, January 23rd.
According to Zacks, analysts expect that Alibaba Group will report full-year sales of $11.95 billion for the current year, with estimates ranging from $35.64 billion to $36.99 billion. For the next financial year, analysts anticipate that the company will post sales of $50.02 billion per share, with estimates ranging from $48.78 billion to $51.56 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Alibaba Group.
A number of brokerages have weighed in on BABA. Vetr upgraded Alibaba Group from a “buy” rating to a “strong-buy” rating and set a $190.25 price target on the stock in a research report on Wednesday, September 6th. SunTrust Banks reiterated a “buy” rating and issued a $205.00 price target on shares of Alibaba Group in a research report on Friday, October 20th. Zacks Investment Research upgraded Alibaba Group from a “hold” rating to a “buy” rating and set a $211.00 price target on the stock in a research report on Wednesday, November 8th. Needham & Company LLC increased their target price on Alibaba Group from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Finally, BidaskClub upgraded Alibaba Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. Alibaba Group has a consensus rating of “Buy” and an average target price of $185.14.
Hedge funds have recently bought and sold shares of the stock. Atlantic Trust Group LLC increased its holdings in Alibaba Group by 314.5% during the 3rd quarter. Atlantic Trust Group LLC now owns 85,197 shares of the specialty retailer’s stock worth $14,715,000 after purchasing an additional 64,642 shares in the last quarter. AXA grew its holdings in shares of Alibaba Group by 8.8% in the third quarter. AXA now owns 802,486 shares of the specialty retailer’s stock valued at $138,597,000 after acquiring an additional 64,589 shares in the last quarter. Wagner Bowman Management Corp bought a new position in shares of Alibaba Group in the third quarter valued at approximately $202,000. Shelton Capital Management bought a new position in shares of Alibaba Group in the third quarter valued at approximately $1,591,000. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of Alibaba Group in the third quarter valued at approximately $12,310,000. 37.94% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This article was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://www.americanbankingnews.com/2018/01/04/brokerages-expect-alibaba-group-holding-ltd-baba-will-post-quarterly-sales-of-11-95-billion.html.
Alibaba Group 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Alibaba Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group and related companies with MarketBeat.com's FREE daily email newsletter.