NEW YORK (TheStreet) -- Shares of Alibaba Group Holding Ltd (BABA) - Get Alibaba Group Holding Ltd. Sponsored ADR Report are up 3.79% to $102.34 today ahead of its scheduled third-quarter earnings report before tomorrow's market open. Here's what analysts are expecting from the Chinese global online and mobile commerce company.

Net profit is expected to be $1.17 billion in the quarter, according to a Reuters SmartEstimate poll of 21 analysts. Fully reported earnings per share are forecast to be 36 cents, based on a poll of 25 analysts.

Alibaba is expected to post revenue of about $2.7 billion for the quarter, up about 52% from a previously reported $1.78 billion a year earlier, Reuters reports.

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Many analysts are enthusiastic about Alibaba's prospects. "We estimate well over half of the Chinese population will be shopping on Alibaba's platforms in 10 years," Jefferies analyst Cynthia Meng said, adding, "There is plenty of room for growth as e-commerce expands into smaller cities and rural areas in China."

"Alibaba has profoundly changed Chinese consumers' purchase behavior and is one of the most profitable and fast-growing large-cap Internet companies globally," JP Morgan analyst Alex Yao said, adding, "We believe its sustainable growth outlook and impressive profitability on an already large-scale makes it a highly sought-after Internet asset for global investors."

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JP Morgan initiated coverage on Alibaba last Wednesday with an "overweight" rating and a price target of $112.  

RBC Capital Markets also initiated coverage last Wednesday with an "outperform" rating and a price target of $120. Deutsche Bank initiated coverage last Wednesday with a "buy" rating and a price target $112.70.

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