Alibaba Group Holding Ltd (NYSE:BABA) stock is trading near its 52-week high ahead of its first-quarter financial results, which will be made public before the market opens on Thursday. A number of Street analysts have been expecting optimistic performance from the Chinese internet giant as the company is doing great in cloud computing and digital media segments.
Most recently, analysts at Stifel lifted their price target for Alibaba shares from $165 per share to $180 per share.
Separately, Raymond James also expects BABA shares hitting $190. Bianca Rodriguez, Aaron Kessler and Justin Patterson at Raymond James are expecting Alibaba to report hefty margins on Thursday. The aforesaid analysts have a “Strong Buy” rating on BABA stock.
Alibaba (NYSE:BABA) shares have performed well so far this year, as the stock rallied more than 80 percent year-to-date. The 52-week range of the stock is $86.01-$160.39. The company has a market cap of $408.50 billion and P/E ratio of 62.78.
Wal-Mart Stores Inc (NYSE:WMT) is set to report its financial results for the second-quarter before the opening bell on Thursday. Analysts surveyed by Thomson Reuters are anticipating earnings of $1.07 per share for the quarter, almost flat with WMT’s adjusted earnings in the same period last year. Revenue is expected to come in at $122.84 billion, as compared to $120.85 billion in the year-ago quarter.
Several analysts initiated their coverage on Walmart over the past month. Jefferies issued a Buy rating for WMT with a price target of $88 on the stock. Stephens improved its rating to “Buy” with a price target of $79, while Cowen & Co. reaffirmed a “Hold” rating with a price target of $79.
Wal-Mart Stores (NYSE:WMT) shares rose nearly 17 percent so far this year. The stock has a 52-week range of $65.28-$81.99. The company’s market cap is $245.50 billion and P/E ratio is 18.38.