Brokerages Anticipate Alibaba Group Holding Limited (NYSE:BABA) Will Announce Quarterly Sales of $33.49 Billion

Equities analysts predict that Alibaba Group Holding Limited (NYSE:BABAGet Rating) will report $33.49 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Alibaba Group’s earnings, with estimates ranging from $32.25 billion to $34.74 billion. Alibaba Group posted sales of $31.87 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.1%. The company is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Alibaba Group will report full year sales of $144.61 billion for the current year, with estimates ranging from $137.38 billion to $149.82 billion. For the next financial year, analysts anticipate that the firm will report sales of $161.57 billion, with estimates ranging from $156.31 billion to $171.40 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Alibaba Group.

Alibaba Group (NYSE:BABAGet Rating) last announced its quarterly earnings results on Thursday, May 26th. The specialty retailer reported $7.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $6.89. The company had revenue of $204.05 billion during the quarter, compared to the consensus estimate of $199.43 billion. Alibaba Group had a return on equity of 10.84% and a net margin of 7.86%. Alibaba Group’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.10 EPS.

BABA has been the topic of several analyst reports. The Goldman Sachs Group assumed coverage on shares of Alibaba Group in a report on Sunday, April 10th. They issued a “buy” rating and a $185.00 target price on the stock. Mizuho dropped their price objective on shares of Alibaba Group from $180.00 to $160.00 in a research note on Monday, May 2nd. StockNews.com started coverage on shares of Alibaba Group in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Truist Financial cut their price target on Alibaba Group from $180.00 to $132.00 and set a “na” rating for the company in a report on Wednesday, May 18th. Finally, Zacks Investment Research upgraded shares of Alibaba Group from a “sell” rating to a “hold” rating and set a $123.00 price objective on the stock in a report on Wednesday, March 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alibaba Group currently has an average rating of “Buy” and a consensus target price of $185.47.

Institutional investors have recently made changes to their positions in the business. Camden National Bank increased its position in shares of Alibaba Group by 56.8% during the 4th quarter. Camden National Bank now owns 27,238 shares of the specialty retailer’s stock worth $6,339,000 after purchasing an additional 9,866 shares during the last quarter. Consolidated Planning Corp bought a new stake in shares of Alibaba Group during the 3rd quarter valued at $30,000. Clear Street LLC bought a new stake in shares of Alibaba Group during the 4th quarter valued at $61,770,000. 7G Capital Management LLC bought a new stake in shares of Alibaba Group during the 4th quarter worth $11,582,000. Finally, Legato Capital Management LLC lifted its position in shares of Alibaba Group by 15.5% during the 4th quarter. Legato Capital Management LLC now owns 10,026 shares of the specialty retailer’s stock worth $1,191,000 after buying an additional 1,346 shares during the last quarter. Institutional investors own 17.39% of the company’s stock.

Shares of Alibaba Group stock opened at $93.41 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.64 and a quick ratio of 1.64. Alibaba Group has a 12 month low of $73.28 and a 12 month high of $230.89. The firm’s fifty day simple moving average is $97.04 and its 200-day simple moving average is $112.97. The stock has a market capitalization of $253.23 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 1.43 and a beta of 0.91.

About Alibaba Group (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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