Zacks: Analysts Anticipate Alibaba Group Holding Limited (NYSE:BABA) Will Announce Quarterly Sales of $30.76 Billion

Wall Street brokerages expect Alibaba Group Holding Limited (NYSE:BABA – Get Rating) to announce sales of $30.76 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Alibaba Group’s earnings, with the highest sales estimate coming in at $30.87 billion and the lowest estimate coming in at $30.60 billion. Alibaba Group reported sales of $28.60 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.6%. The firm is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Alibaba Group will report full-year sales of $132.17 billion for the current fiscal year, with estimates ranging from $130.62 billion to $132.85 billion. For the next fiscal year, analysts forecast that the firm will report sales of $147.73 billion, with estimates ranging from $142.24 billion to $149.83 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Alibaba Group.

Alibaba Group (NYSE:BABA – Get Rating) last posted its quarterly earnings results on Thursday, February 24th. The specialty retailer reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.32. The firm had revenue of $242.58 billion for the quarter, compared to analysts’ expectations of $245.79 billion. Alibaba Group had a return on equity of 10.84% and a net margin of 7.86%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.98 EPS.

BABA has been the topic of a number of research reports. Bank of America lowered their target price on Alibaba Group from $203.00 to $193.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. Truist Financial lowered their target price on Alibaba Group from $200.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, January 26th. Benchmark lowered their target price on Alibaba Group from $235.00 to $220.00 in a research report on Thursday, April 7th. UBS Group lowered their target price on Alibaba Group from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 11th. Finally, StockNews.com started coverage on Alibaba Group in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, Alibaba Group presently has an average rating of “Buy” and a consensus target price of $191.01.

Several hedge funds have recently bought and sold shares of the company. Primecap Management Co. CA grew its stake in shares of Alibaba Group by 3.5% during the 4th quarter. Primecap Management Co. CA now owns 17,384,317 shares of the specialty retailer’s stock worth $2,065,083,000 after acquiring an additional 591,700 shares during the period. Morgan Stanley boosted its stake in Alibaba Group by 19.6% in the 2nd quarter. Morgan Stanley now owns 17,323,393 shares of the specialty retailer’s stock worth $3,928,602,000 after purchasing an additional 2,838,191 shares during the period. Fisher Asset Management LLC boosted its stake in Alibaba Group by 1.8% in the 1st quarter. Fisher Asset Management LLC now owns 14,445,021 shares of the specialty retailer’s stock worth $1,571,618,000 after purchasing an additional 256,598 shares during the period. Dodge & Cox boosted its stake in Alibaba Group by 11.2% in the 4th quarter. Dodge & Cox now owns 8,899,470 shares of the specialty retailer’s stock worth $1,057,168,000 after purchasing an additional 898,400 shares during the period. Finally, E Fund Management Co. Ltd. bought a new position in Alibaba Group in the 3rd quarter worth about $947,037,000. Institutional investors own 17.39% of the company’s stock.

Alibaba Group stock opened at $90.05 on Friday. The stock has a market capitalization of $244.12 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 1.66 and a beta of 0.91. Alibaba Group has a 52-week low of $73.28 and a 52-week high of $230.89. The stock’s 50 day moving average price is $100.40 and its two-hundred day moving average price is $121.46. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.64 and a current ratio of 1.64.

Alibaba Group Company Profile (Get Rating)

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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