3 Stocks That Could Still Leap After Earnings

Earnings season is far from over- and for these key stocks it hasn’t even begun. We used TipRanks’ Earnings Calendar to see which stocks are due to report their earnings in the next week or two. Crucially, the Earning Calendar also displays the analyst consensus and average price target of each stock, so you can immediately assess the Street’s outlook going into the print. Now let’s delve deeper:

Alibaba (NASDAQ:BABA)

 

China’s Alibaba will report results on August 10- and analysts are bullish that the stock has a bright future ahead. In fact, all 14 top analysts that have rated BABA in the last three months have a ‘buy’ rating on the stock. Their average price targets also reveal that BABA- which has exploded over 70% year-to-date- still has about 7% upside potential over the next year.

However, the Street could be underestimating the extent of Alibaba’s growth. Just last week, CEO Jack Ma said he expects revenue to rise by an incredible 45-48 percent in its fiscal year from April due to small businesses moving online to boost sales.

At a meeting in Nairobi, Ma drew gasps from the crowd when he said: “Our revenue this year, we will still have 45% to 48% growth, the money comes from solving problems for others.” This implies sales of $34.3 billion- notably higher than the $31.42bn analysts have been predicting.

Tesla (NASDAQ:TSLA)

 

This controversial auto stock will be reporting its much-anticipated Q2 results on August 2. From the beginning of the year the stock has soared from $217 to $339 and strong results could take shares even higher.

We can see that the stock has a consensus EPS forecast of -$2 down from -$1.54 last year. Investors will also be paying close attention to: 1) any updates on Model 3 production and deliveries; 2) updates on Tesla’s solar roof pilot production progress and 3) any plans to significantly increase vehicle production and deliveries. We already know that in the first half of 2017 Tesla delivered 47,100 vehicles, up 60% year-over-year.

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