Analysts expect Alibaba Group Holding Limited (NYSE:BABA) to announce $6.92 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Alibaba Group Holding Limited’s earnings, with the highest sales estimate coming in at $7.25 billion and the lowest estimate coming in at $6.46 billion. Alibaba Group Holding Limited reported sales of $4.84 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 43%. The company is scheduled to report its next earnings report on Thursday, August 10th.

According to Zacks, analysts expect that Alibaba Group Holding Limited will report full year sales of $6.92 billion for the current fiscal year, with estimates ranging from $33.44 billion to $34.17 billion. For the next financial year, analysts anticipate that the firm will report sales of $45.11 billion per share, with estimates ranging from $42.82 billion to $47.80 billion. Zacks Investment Research’s 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 posted its quarterly earnings results on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.26 billion. Alibaba Group Holding Limited had a net margin of 27.51% and a return on equity of 15.40%. During the same quarter in the previous year, the company posted $0.47 EPS.

A number of equities analysts have weighed in on the company. Zacks Investment Research raised Alibaba Group Holding Limited from a “hold” rating to a “strong-buy” rating and set a $157.00 target price for the company in a research report on Thursday, June 15th. Royal Bank Of Canada reissued a “buy” rating and issued a $120.00 target price on shares of Alibaba Group Holding Limited in a research report on Tuesday, May 16th. Barclays PLC boosted their target price on Alibaba Group Holding Limited from $130.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 10th. Bank of America Corporation reissued a “buy” rating and issued a $161.00 target price (up previously from $144.00) on shares of Alibaba Group Holding Limited in a research report on Sunday, June 11th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $160.00 target price (up previously from $122.00) on shares of Alibaba Group Holding Limited in a research report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $139.63.

Several hedge funds have recently made changes to their positions in the stock. Ruane Cunniff & Goldfarb Inc. bought a new stake in Alibaba Group Holding Limited during the fourth quarter valued at approximately $293,000. Ally Financial Inc. bought a new stake in Alibaba Group Holding Limited during the fourth quarter valued at approximately $1,317,000. Renaissance Technologies LLC bought a new stake in Alibaba Group Holding Limited during the fourth quarter valued at approximately $50,078,000. ARK Investment Management LLC bought a new stake in Alibaba Group Holding Limited during the fourth quarter valued at approximately $3,929,000. Finally, Polen Capital Management LLC increased its stake in Alibaba Group Holding Limited by 16.6% in the fourth quarter. Polen Capital Management LLC now owns 13,454 shares of the specialty retailer’s stock valued at $1,181,000 after buying an additional 1,919 shares in the last quarter. 36.28% of the stock is owned by hedge funds and other institutional investors.

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Alibaba Group Holding Limited (NYSE BABA) traded down 0.84% during trading on Friday, reaching $141.53. 17,277,947 shares of the company traded hands. Alibaba Group Holding Limited has a 52 week low of $73.30 and a 52 week high of $148.29. The firm has a market capitalization of $358.07 billion, a price-to-earnings ratio of 56.75 and a beta of 2.63. The company’s 50-day moving average price is $125.85 and its 200 day moving average price is $107.74.

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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