|Bid||255.200 x N/A|
|Ask||255.400 x N/A|
|Day's Range||253.000 - 262.000|
|52 Week Range||167.600 - 263.800|
|Beta (5Y Monthly)||1.56|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
In his first letter to shareholders, Alibaba’s (BABA) CEO Daniel Zhang has set out a series of ambitious goals for the Chinese e-commerce giant.BABA’s goal is to serve more than 1 billion consumers in China and facilitate more than RMB10 trillion of consumption on the company’s platforms in the next five years as ‘we continue on the path of globalization’.Longer-term, Zhang wants BABA to serve 2 billion consumers globally, create 100 million jobs and provide the necessary infrastructure to support 10 million small businesses to become profitable on the company’s platforms by 2036.“We will continue to pursue our three strategic pillars of globalization, China domestic consumption and big data powered by cloud computing” the CEO said.“Globalization is our long-term battle; Chinese domestic consumption is our cornerstone battle and big data powered by cloud computing is our battle for the future” he wrote.Zhang also pointed out that this year the company has migrated its core system onto the public cloud, paving the way to build a cloud-native infrastructure for the future, and held a secondary listing in Hong Kong.“During this past fiscal year, despite the impact of the pandemic, Alibaba still delivered on a strategic goal that we had established five years ago, which was to surpass US$1 trillion in GMV. This was an important milestone for Alibaba, especially in the context of US$6 trillion in total annual retail sales of consumer goods in China today” Zhang wrote.The SEC filing also showed that BABA revenue soared 35% over the last fiscal year, with net income up 75%. Meanwhile annual active customers surged to 140 million from 120 million previously.On July 9, RBC Capital analyst Mark Mahaney reiterated his buy rating on the stock and $235 price target. “While management continues to emphasize strategic investments to sustain long-term growth, we look to narrowing losses on this line as a signal of improved cost management and path to profitability, which we believe would be a material positive for the stock” commented Mahaney.For the June quarter, the analyst is forecasting 124.6B RMB in Core Commerce Revenue, implying 25% Y/Y growth, and 101.0B RMB in China Commerce (28% Y/Y growth), largely in line with the Street.Turning to other Wall Street analysts, the bulls have it. The Strong Buy consensus boasts 20 Buy ratings versus 1 Hold rating. The $267 average price target implies 2% upside potential in the shares in the coming 12 months. (See Alibaba stock analysis on TipRanks). Shares in Alibaba are now trading up 23% year-to-date.Related News: Amazon Delays Prime Day- This Time Until October Has Apple Surged Too Far, Too Fast? Analyst Weighs In Lookout Walmart, Amazon Is Coming for Your Grocery Customers, Says Analyst More recent articles from Smarter Analyst: * Amazon Is Said To Offer $100M In Stock Awards To Keep Zoox Talent * Walgreens Reports $1.7B Quarterly Loss, Cuts 4,000 Jobs Due To Covid-19 Impact * Moderna Inks Deal With Rovi To Supply Potential Covid-19 Vaccine Outside U.S. * Sony Invests $250M For Minority Stake In Fortnite Maker Epic Games
On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about Alibaba Group Holding Ltd - ADR (NYSE: BABA). He said the stock traded 20% higher in a very short time frame and yet traders are buying the July $275 calls. They're expecting even more upside.Around 6,000 contracts were traded in the first half of the trading session and traders were paying around $2.75 for them. Najarian added that buyers of these calls are hedging their positions by selling the July $290 calls. This trade is short term as calls expire next Friday.See Also: 4 Reasons Alibaba's Stock Is A Buy Right NowNajarian also noticed some bullish options activity in Cleveland-Cliffs Inc (NYSE: CLF). Around 30,000 contracts of the July $6 calls were traded early in the session. Traders paid around 20 cents for these calls.Najarian likes both trades and he decided to follow them.Image: Andy Mitchell, FlickrSee more from Benzinga * Fast Money Picks For June 1(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
If you've restricted yourself to domestic stocks, then you could be missing out on the virtually unstoppable growth of a massive and successful Chinese company. I'm referring to Alibaba (NYSE:BABA), the e-commerce giant, as the momentum in Alibaba stock isn't likely to slow down.Source: testing / Shutterstock.com Of course, a black-swan event such as a major resurgence in the novel coronavirus could derail BABA stock's progress. Anything is possible, but investors have to work with probabilities and Alibaba has no evident problems right now.Besides, as we will see in the upcoming technical analysis of BABA stock, this investment has demonstrated an impressive level of resiliency. Additionally, Alibaba is involved in a number of future-proofed market niches.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Alibaba Stock at a GlanceSince Asia generally felt the fiscal impact of the coronavirus before the United States did, it makes sense that BABA stock dropped earlier than Amazon (NASDAQ:AMZN), the company's American counterpart.The decline in the share price began after BABA peaked at $230 and change on Jan. 13. The coronavirus crater didn't last very long, though. In fact, the majority of the loss in the share price was regained by the end of June. * The 7 Best Stocks to Invest in Right Now Patient investors were finally rewarded in early July as BABA made a parabolic move from $216 to $261. This is not unusual price action after a stock has been "basing" for a while. As long as the company is profitable, the gains in the stock price are fully justified and should persist for a while longer. Paying the Price for QualitySome commentators might balk at the idea of paying extra for BABA stock since it recently made a move higher. However, we have to remember the wise (albeit loosely paraphrased) words of Warren Buffett: price is what you pay, but value is what you get.In other words, a stock can still be a great buy even if the price is higher today than it was a couple of weeks ago. It makes sense to examine both the price of the shares and the fundamentals of the company.Fundamentally, Alibaba is in terrific shape. Needham analyst Vincent Yu certainly seems to concur with this outlook as he has established a price target of $275 on BABA stock.Yu furthermore assigned a rating of "buy" on the stock. The analyst cited Alibaba's "well-established ecosystem, strategic position in the e-commerce value chain and deep understanding of China's retail environment."One would be hard-pressed to argue with Yu's point here. Alibaba generates approximately $72 billion in annual revenues. It remains a strong global competitor in the area of online and mobile commerce. More Than E-CommerceHowever, there's more to Alibaba than its direct online commerce business. For instance, the company offers over 800 social media products. This means that consumers can look to Alibaba as the equivalent of not only Amazon, but Facebook (NASDAQ:FB), too.In addition, Alibaba is a pioneer with respect to integrating live streaming with e-commerce. Live streaming might not sound directly relevant to e-commerce, but Alibaba has seamlessly integrated the two online experiences.During the coronavirus pandemic, Alibaba doubled its number of live streams. With 200 live streams available now, Alibaba can offer shoppers a much more interactive experience.And, as Yu points out, Alibaba's live streaming integration provides "entertainment values that do not come with traditional shopping experiences" along with "access to exclusive discounts that are not available elsewhere." The Final Word on Alibaba StockAlibaba's investment into social media and live streaming have already begun to pay off big-time. I encourage you to expand your geographic horizons and consider a position in BABA as this online commerce bellwether continues to push the proverbial envelope.Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system -- with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the "Master Key" to profiting from the biggest tech revolution of this (or any) generation. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post Alibaba Is Still a High-Conviction E-commerce Holding appeared first on InvestorPlace.
The company has benefited from investors’ appetite for any stocks related to e-commerce and its strong presence in the cloud during the pandemic.
SoftBank Group shares have moved steadily higher in recent sessions. The stock has rallied 130% from its March lows and now sits at a 20-year high.
AliExpress Russia, an e-commerce venture between Chinese online shopping giant Alibaba and Russian partners, said it was aiming for annual turnover of $10 billion by 2022-2023, up from what analysts estimate is about $6 billion now. Chief Executive Dmitry Sergeev, who did not give details on current turnover, told Reuters the company could consider an initial public offering (IPO) in three to four years, although he called the existing shareholding structure "optimal". The venture between Alibaba, the Russian Direct Investment Fund, mobile operator Megafon and internet firm Mail.Ru is one of several players expanding in Russia's 2 trillion rouble ($28 billion) e-commerce market.
With market volatility picking up lately, it might seem like a good idea to hedge your portfolio against another downturn. But hedging strategies come at a price.
(Bloomberg) -- Vanguard Group Inc., the New York Stock Exchange and Nasdaq Inc. are pushing back on an escalating risk to their bottom lines: threats from Capitol Hill and the Trump administration to dramatically curtail U.S. investments in Chinese companies.During a Thursday panel discussion hosted by the Securities and Exchange Commission, the firms’ executives questioned a bill under consideration in Washington that could lead to Alibaba Group Holding Ltd., Baidu Inc. and other Chinese businesses getting kicked out of American stock markets. The intent of the legislation is to force China to comply with U.S. accounting rules. But among the concerns raised was that it might just prompt companies to relocate to markets with less regulatory oversight.“Companies will likely move their listings,” said Rodney Comegys, a principal at Vanguard. “They’ll move their place from New York to Hong Kong.”The remarks are notable because Wall Street -- hesitant to get in the middle of rising tensions between the U.S. and Beijing -- has been mostly quiet about about Washington’s potential crackdown on Chinese companies.The bill in question cleared the Senate unanimously in May with a companion version now being reviewed by the House. It would trigger the de-listing of Chinese firms if they don’t allow their books to be examined by the U.S. Public Company Accounting Oversight Board for three straight years -- a requirement that China has long rejected. The legislation’s Republican and Democratic backers says it’s needed to protect U.S. investors from fraud.Read More: Citadel’s Ken Griffin Urges U.S. Access to Chinese AuditsThe Thursday event also featured SEC staff and executives from major accounting firms. It’s not expected to result in swift policy changes as most regulations take months or even years to enact.Vanguard is among giant money managers whose mutual funds invest in Chinese businesses listed on U.S. exchanges, while NYSE and Nasdaq make millions of dollars in fees by allowing Chinese shares to be traded on their platforms.John Tuttle, chief commercial officer for NYSE Group Inc., said the exchange would support adding an indicator to company tickers to ensure investors are aware of risks associated with firms whose audits aren’t inspected by the PCAOB. But he warned that the proposed legislation could backfire.‘Blunt Tool’“We don’t disagree with it philosophically,” Tuttle said. “However, some of the tactics -- about how they want to get the results they want to get -- we don’t necessarily agree with that.”While he was careful to say that Nasdaq wasn’t opposing the pending bill, John Zecca, the exchange operator’s global chief legal and regulatory officer, was also critical.“Legislation is a very blunt tool,” he said. “The government already has a number of tools to address this.”The issue of Chinese stock listings has attracted the attention of President Donald Trump, who has ratcheted up his attacks on China over the coronavirus pandemic and as friction mounts due to Beijing’s recent moves that chip away at Hong Kong’s political freedoms.Trump has ordered regulators to review Chinese companies’ lack of adherence to U.S. accounting rules and submit recommendations by early August on how to fix the problem, putting the SEC at the center of the fight. The president’s critiques come as slumping poll numbers show he faces a difficult road to winning re-election in November.Luckin ScandalAdding urgency to the debate over Chinese companies is this year’s high-profile accounting scandal at Luckin Coffee Inc. Since reaching a high of $50 a share in January, the Chinese chain has cratered more than 90% in Nasdaq trading, a plunge that’s erased about $11 billion of market value. Following an internal investigation, Luckin disclosed earlier this month that fabricated transactions had inflated its 2019 revenue by about $300 million.SEC Chairman Jay Clayton has said he supports the legislation because denying access to PCAOB examiners creates an “unlevel playing field” for U.S. investors. Clayton, in remarks prepared for Thursday’s event, said he expected the panelists’ comments to inform recommendations that regulators are preparing for Trump.The longstanding requirement that all companies that trade on U.S. exchanges submit their audits for PCAOB inspections was implemented in the wake of Enron Corp.’s 2001 accounting scandal. There are more than 200 Chinese corporations that have been allowed to sell shares in the U.S. without complying, according to the PCAOB. Their market capitalization is roughly $1.8 trillion, with Alibaba making up about one-third of the total.Bad AuditsFamous short seller Carson Block was among Thursday’s panelists who said the U.S. needs to do much more to prevent fraudulent Chinese companies from ripping off American investors.The Muddy Waters Capital founder said that when Chinese companies trading in the U.S. blow up, American affiliates of global accounting firms should be held financially responsible. The proposal is provocative because U.S. accounting firms have no role in scrutinizing the books of Chinese companies, which are typically examined by Chinese audit affiliates. Block said audits of Chinese companies are akin to a “rubber stamp.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Alibaba Group Holding Limited today announced that it filed its annual report on Form 20-F for the fiscal year ended March 31, 2020.
The Dow Jones Industrial Average sold off on today's stock market, but the Nasdaq composite closed higher. A handful of China stocks led the market.
Yahoo Finance’s Emily McCormick joins Kristin Myers to break down Needham's buy rating of Alibaba and “strategic position in the e-commerce value chain.”
Alibaba Group Holding Ltd - ADR (NYSE: BABA) shares are trading at record highs, and one analyst is of the view the stock still offers a buying opportunity.The Alibaba Analyst: Needham's Vincent Yu initiated coverage of Alibaba with a Buy rating and $275 price target. The stock is also added to Needham's "Conviction List."The Alibaba Thesis: Alibaba, which owns Taobao and Tmall, will remain the No. 1 player in the e-commerce market as it strengthens efforts to attract customers from lower-tier cities, Yu said in a Thursday note. 1. The analyst expects the company's Juhuasuan and Taobao Deals, which provide value-for-money products and target consumers in lower-tier cities, to drive user and gross merchandise value growth in the near term. 2. The analyst believes Alibaba's Taobao Live is the "best-in-class" e-commerce live-streaming platform on the market, as e-commerce live-streaming gains popularity. Taobao Live's industry-leading market position and highly efficient supply chain helped grow GMV over 100% in the fiscal year 2020, he noted. 3. Alibaba's Ele.me and Koubei food delivery platform will remain the second-largest player in the local services market, the analyst said. The company is trying to leverage in-app traffic of Alipay, and explore opportunities in lower-tier cities. 4. Yu sees the company's cloud platform - AliCloud - as an upside driver for top-line and margin expansion."We think Alicloud, as the market leader in China (~46% market share), is benefiting from the shift away from traditional IT infrastructure toward the Cloud by enterprises and government agencies," Yu wrote in the note.Needham said the company's strengths are likely to serve as crucial competitive barriers to newer market entrants, such as Pinduoduo Inc - ADR (NASDAQ: PDD), which over the past two years has aggressively used subsidies to pursue customers.BABA Price Action: At last check, Alibaba shares were up 1.08% to $260.42.Related Links:Alibaba Analyst: 'Short-Term Headwinds Well Know, Long-Term Story Intact'Beyond Meat To Make Chinese Retail Debut With Alibaba Partnership Image: Andy Mitchell, FlickrLatest Ratings for BABA DateFirmActionFromTo Jul 2020NeedhamInitiates Coverage OnBuy May 2020CFRAMaintainsHold May 2020Nomura InstinetMaintainsBuy View More Analyst Ratings for BABA View the Latest Analyst Ratings See more from Benzinga * Chinese EV Maker Xpeng Motors Seeks 0M US IPO: Report * JD.com Plans To Kickstart Hong Kong IPO As US-Listed Chinese Firms Increasingly Look Toward Home(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The 30-stock Dow Jones has gained as much as 5.1% since the June 26 sell-off and key test of its rising 50-day moving average.
Alibaba Group Holding (NYSE: BABA) shares are trading higher on Thursday after Needham initiated coverage on the company's stock with a Buy rating and announced a $275 price target.Alibaba is the world's largest online and mobile commerce company, measured by GMV (CNY 5.7 trillion/$846 billion for the fiscal year ended March 2019). It operates China's most-visited online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer).Alibaba's China marketplaces accounted for 68% of revenue in fiscal 2019, with Taobao generating revenue through advertising and other merchant data services and Tmall deriving revenue from commission fees.Alibaba's stock was trading up 0.38% at $258.63 on Thursday during the time of publication. The stock has a 52-week high of $268 and a 52-week low of $151.85.Related Links:Here's How Much Investing ,000 In The 2014 Alibaba IPO Would Be Worth TodayUS Senate Passes New Regulations For Chinese Companies; Alibaba, Others Trade DownLatest Ratings for BABA DateFirmActionFromTo Jul 2020NeedhamInitiates Coverage OnBuy May 2020CFRAMaintainsHold May 2020Nomura InstinetMaintainsBuy View More Analyst Ratings for BABA View the Latest Analyst RatingsSee more from Benzinga * Alibaba Reports Q4 Earnings Beat * US Senate Passes New Regulations For Chinese Companies; Alibaba, Others Trade Down(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Alibaba Group "will remain the No.1 player in the e-commerce market," according to a Needham analyst, who initiated coverage of the Chinese e-commerce giant on Thursday with a buy rating. Analyst Vincent Yu, who set a $275 price target for the stock, also added Alibaba to his conviction list. Yu said in a note to clients that Alibaba should continue to be the top player in China's e-commerce market as it increases efforts to attract customers from lower-tier cities, although he warned that competition looms.
With people now preferring to work remotely due to growing number of coronavirus cases, investments in the cloud space have increased.
Cloud computing has been a promising investment theme in recent years. As NVIDIA (NASDAQ: NVDA) CEO Jensen Huang said on a recent conference call, "The basic computing elements are now storage servers, CPU servers, and GPU servers and are composed and orchestrated by hyperscale applications that are serving millions of users simultaneously." Research firm Gartner previously forecast that the total cloud computing market will grow 17% this year to reach $266 billion, and that was before a global pandemic accelerated the trend.
An initial public offering from Alibaba's Ant Group by year-end would give equity capital markets in Hong Kong a timely boost after a new security law cast in doubt the city's future as a global financial centre, analysts said on Thursday. With new deals worth $4.17 billion in the first half, Hong Kong's exchange accounted for 7.6% of the global IPO market, though down from a share of 11%, and deals worth $7.91 billion, in the same period last year, Refinitiv data showed. The fall in value ranked Hong Kong as the fourth most active exchange after the Nasdaq, mainland China's new Star Market and the Shanghai stock market.
(Bloomberg Opinion) -- Time will be the next frontier in India’s digital battlefield; dollars will follow the hours consumers spend online.India has left a void in their day by banning 59 Chinese apps after a border dispute with its northern neighbor led to violent clashes. The video-sharing platform TikTok, which became a craze in towns and villages as a medium of expression, is gone. So are its smaller cousins, like Bigo Live and Likee.What can fill the gap? Thanks to the world’s cheapest data charges of 9 cents per gigabyte, Indian smartphone users are guzzling content for six hours plus. For local startups like Glance, which offers games, news and video on the mobile lock-screen, the ban on Chinese competition is a chance to add to its tally of 100 million daily active users. The country’s youth bulge also makes it a perfect occasion for homegrown education technology unicorns like Byju to scale up.But the ultimate prize may go to super-apps that meld content and commerce in the 16 Indian languages besides English that boast anywhere between 5 million to half a billion speakers. To not have to download multiple apps to do different things will save phone memory, an important consideration for those who access the internet on low-end devices. Tencent Holdings Ltd.’s WeChat, which offers everything from messaging to gaming and financial services, provides a successful template. Chinese users are also online for six hours a day, mostly to browse content, particularly social media. Although only 4% of their time is spent on e-commerce, it’s enough to drive $1.5 trillion in annual online sales. The smaller Indian market, with online sales of $40 billion, will want to copy the playbook. The most obvious super-app candidate is billionaire Mukesh Ambani’s Jio Platforms Ltd., a four-year-old startup with an equity value of $65 billion, including more than $15 billion recently raised from investors including Facebook Inc., KKR & Co. and Silver Lake Partners. Before Jio eventually seeks a listing on Nasdaq or the New York Stock Exchange, Ambani would probably want it ready as a carriage-content-and-commerce powerhouse for half-a-billion people.Jio’s 4G telecom service already has roughly 400 million subscribers, though they currently don’t even pay $2 a month. The trick to a $100 billion-plus initial public offering would lie in using the partnership with Facebook to introduce features such as the WeChat mini-program via the popular WhatsApp messaging service. It lets users book hotels, order taxis, explore augmented reality to try on a new L’Oreal beauty product, or test-drive a Tesla — without leaving WeChat. When it comes to building product awareness and interest, these embedded mini-apps in China are now a fourth as effective as regular online stores run by JD.com Inc. and Alibaba Group Holding Ltd., according to McKinsey & Co. They will offer brands in India a chance to sell more — and more profitably — even in remote towns. The consulting firm found that younger consumers in smaller Chinese cities give more weight to advice from social-media influencers and referrals by friends than their counterparts in larger metropolitan areas. This will probably hold true for India as well. As for the actual commerce, JioMart, Ambani’s new e-commerce platform, would take orders and — if the regulator permits it — accept payments via WhatsApp. Staples could be delivered by traditional neighborhood stores, with Jio helping connect them to buyers. For discretionary products, Ambani may use his Reliance Retail Ltd., already the country’s largest bricks-and-mortar retailer. It won’t be too hard to grease the wheels of super-app commerce with credit. Local lenders will be desperate for a new source of balance-sheet expansion after absorbing inevitable losses from the pandemic and lockdown. Still, the road to satisfied digital customers will be long and bumpy because of India’s creaky infrastructure. Keeping users hooked with novel content will therefore be crucial. Facebook is building a new version of Quest virtual reality headsets; the Silicon Valley firm is also acquiring studios that make VR games. Jio, which wants its set-top box to support online gaming, could find opportunities for collaboration.However, the main entertainment fare will still be cricket and Bollywood. Last year, Ambani promised Jio First Day First Show — movies streamed to broadband customers on the day of their theater release. With Covid-19 shutting down cinemas, producers in India need digital alternatives; audiences need their fix. Although Ambani appears to be ahead, his won’t be India’s only super-app. Amazon.com Inc. has pledged to invest $5.5 billion in the country, while Walmart Inc. has plowed in $16 billion to acquire local e-commerce leader Flipkart Online Services Pvt. Potentially, they — or Alphabet Inc.’s Google — could seek telecom and digital media partners.Western tech firms were broadly shut out of China’s digital revolution. In India, they’ll join the fray, hoping for insights that will come in handy in other emerging markets. But India will still prefer local control over the super-apps. Six hours a day of 1.3 billion people — and all the data that flows from it — is a coveted resource, something politicians won’t want slipping out of their sphere of influence. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Dow Jones Industrial Average swung between small gains and small losses on today's stock market, paring its morning gains in early afternoon trading.
Stocks bounced back early from Tuesday's sharp losses, but the Nasdaq pared its gains while the Dow Jones Industrial Average slipped into the red.
U.S. traded shares of Alibaba Group Holding Ltd. rallied Tuesday following a report that the Chinese e-commerce giant plans an initial public offering for Ant Financial Services Group. American depositary receipts of Alibaba surged as high as $254 Tuesday and were last up 6.6% at $252.15. On Tuesday, Reuters reported that Alibaba was seeking a Hong Kong IPO for Ant that would value the fintech segment at more than $200 billion. Reuters also reported, however, that Ant said information about its IPO plans was incorrect while Alibaba had yet to respond for a comment.
Stocks gained with Biogen and Alibaba up Wednesday, and Apple leading the Dow Jones after another price target hike.
The Zacks Analyst Blog Highlights: JD.com, Tencent, Alibaba and Sohu.com