NEW YORK (TheStreet) -- Alibaba Group Holding (BABA) - Get Report shares are getting a boost, up 1.89% to $71.09 on Wednesday as Wall Street anticipates year-over-year growth in profit and revenue when the e-commerce giant releases its third quarter fiscal 2016 earnings results Thursday before the market open.
Analysts' estimates are earnings of 88 cents a share on revenue of $5.1 billion.
During the same period last year, the company earned 57 cents a share on revenue of $3.5 billion.
Even though many investors are concerned about the impact of China's economic slowdown, analysts believe solid Chinese consumption should far outweigh the slowing economy, according to the Wall Street Journal.
This is evident in Alibaba's robust Singles' Day performance, China's biggest online shopping festival celebrated November 11. Latest sales reached $14.3 billion, 54% higher than the previous year.
In contrast, Reuters said that the company is projected to display its weakest quarterly revenue on record.
Separately, TheStreet Ratings currently has a Hold rating on the stock with a letter grade of C-.
he company's strengths can be seen in multiple areas, such as its notable return on equity, robust revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, TheStreet finds that the stock has had a generally disappointing performance in the past year.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: BABA