For the first quarter, analyst Alicia Yap expects total revenues to grow 48.6 percent to RMB30.1 billion ($4.552 billion), largely in line with consensus estimates. The analyst models non-GAAP EPS of Rmb4.17 ($0.63) per share, in-line with consensus.
Further, the analyst estimate total GMV to rise 22 percent to Rmb822 billion with Taobao at Rmb500 billion (+17 percent year-over-year) and Tmall at Rmb322 billion (+31 percent year-over-year).
"We model monetization rate of 2.67 percent, with PC at 2.92 percent and mobile at 2.58 percent," Yap wrote in a note.
According to Yap, the following should be the key focus on the call:
- "Monetization improvement and digital media integration update."
- "Segment disclosure and acquisition margins impact."
- "Advertising tax impact to P4P revs and margins."
- "Update on O2O, global, cloud computing and logistics services."
- "Consumption behavior and China economic condition."
The analyst hiked FY2017 non-GAAP EPS estimate by 7 percent to $3.20 from $2.99 and revenue forecast by 3.4 percent to $22.28 billion from $21.55 billion.
Yap also increased the price target by $6 to $104, implying a potential upside of 22.9 percent.
At the time of writing, shares of Alibaba were up 0.44 percent on the day at $84.96.
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