|BABA - up substantially since the beginning of the year - reports on Thursday. A preview:|
Alibaba Results Expected To Maintain Double-Digit Growth
Amid a slew of China internet companies reporting strong quarterly results, China e-commerce giant Alibaba ( BABA) arrives Thursday.
The analyst consensus looks for Alibaba to report revenue of $5.2 billion, or 35.87 billion yuan, up 48% in local currency from the year-ago quarter. The consensus on adjusted earnings is 66 cents, up 50% in local currency. Alibaba reports before the market open Thursday, for its fiscal fourth quarter.
Needham analyst Kerry Rice has a buy rating on Alibaba and price target of 135, up from a recent target of 125. Rice thinks two factors could drive an upside to Alibaba expectations. One is that China e-commerce retail sales accelerated in the first quarter and that an increasingly personalized user experience should result in higher sales.
Alibaba follows the earnings of JD.com ( JD), its closest rival in the e-commerce field. JD.com topped estimates and guided second-quarter revenue above views.
Alibaba, an IBD Leaderboard stock, advanced 0.9% to 121.40 on the stock market today. Alibaba is up about 57% this year.
JD.com stock fell 0.8% to 40.23. JD.com is up about 57% this year.
In his report, Kerry said that while Alibaba was traditionally transaction-focused, "we believe it is increasingly becoming a technology solution provider in areas such as marketing, data analytics, logistics operation, and cloud computing."