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09988
BABA-W
HKD
131.7005.700
(4.52%)
1D
AI Analysis for 09988
AI Analysis
High
134.200
Open
128.800
VWAP
132.13
Vol
67.79M
Mkt Cap
3.06T
Low
128.700
Amount
8.96B
EV/EBITDA(TTM)
18.03
Total Shares
19.10B
EV
314.17B
EV/OCF(TTM)
23.92
P/S(TTM)
2.23
Alibaba Group Holding Ltd is an investment holding company mainly engaged in the provision of technology infrastructure and marketing platforms. The Company operates its business through four segments. The Alibaba China E-commerce Group segment is mainly engaged in E-commerce business, including operating Tmall Supermarket and Tmall Global, providing customer management services, product sales, as well as logistics services. It also operates quick commerce business such as Taobao Instant Commerce and Ele.me, as well as the China commerce wholesale business through 1688.com. The Alibaba International Digital Commerce Group segment is mainly engaged in international commerce retail and wholesale business, operating platforms such as AliExpress, Trendyol, Lazada and Alibaba.com. The Cloud Intelligence Group segment mainly provides public and non-public cloud services. The Other segments primarily include the operations of Freshippo, Cainiao, Alibaba Health and other business.
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News
4.0
03-23aastocks<Research>CMSI Reduces BABA-W (09988.HK) Price Target to $170, Maintains Overweight Rating
Financial Results: BABA-W reported financial results for Q3 FY2025, with revenue and adjusted EBITA falling 2% and 27% below expectations, primarily due to weak e-commerce growth and high investments in instant retail and AI, resulting in a 7% drop in share price.
Growth Prospects: Despite the disappointing results, analysts believe BABA-W's growth prospects are improving, presenting a favorable entry point for long-term investors, leading to a reduction in target prices for its US stock and H-shares.
4.0
03-23aastocksJPM Maintains Overweight Rating on BABA-W (09988.HK); Alibaba Cloud and Quick Commerce Valuations Ignored
JP Morgan's Analysis of Alibaba: JP Morgan's report indicates that Alibaba's stock is undervalued, primarily reflecting only its domestic e-commerce earnings, while overlooking the potential of Alibaba Cloud and quick commerce platforms.
Forecast Adjustments: The broker has lowered its revenue and adjusted EPS forecasts for Alibaba for FY26 and FY27, resulting in a reduction of the target stock price for both US and H-share listings.
Alibaba Cloud Growth: Alibaba Cloud has shown significant revenue growth, rebounding to 36% in the latest quarter, with AI product revenue experiencing triple-digit growth for ten consecutive quarters.
Jefferies' Position: Jefferies has also adjusted its target price for Alibaba to $206 while maintaining a Buy rating, citing improvements in quick commerce fundamentals.
3.5
03-23aastocksAlibaba's Qianwen Allegedly Introduces AI-Powered Ride-Hailing Functionality
Stock Performance: BABA-W (09988.HK) experienced a decline of 2.183%, with short selling amounting to $3.72 billion and a ratio of 14.488%.
AI Ride-Hailing Feature: Alibaba's Qianwen has introduced an AI ride-hailing feature that allows users to perform tasks like vehicle selection and scheduling through voice commands.
Integrated Services: Qianwen leverages Alibaba's ecosystem to provide a range of integrated services, including flight, hotel, and taxi bookings.
Analyst Outlook: UBS maintains a "Buy" rating on BABA-W, noting that while recent results missed expectations, the long-term outlook remains positive.
3.5
03-22aastocksJoseph Tsai of BABA-W: The Primary Aim of AI Is to Make AI Applications Widely Accessible
Joseph Tsai's Speech: At the China Development Forum 2026 Annual Meeting, Joseph Tsai discussed four key factors for the success and growth of the AI industry in China.
China's Manufacturing Advantage: Tsai highlighted that China possesses the world's largest manufacturing system, contributing nearly 30% of global manufacturing added value, which is crucial for AI development.
Digitalization and Data Utilization: The rapid digitalization of China's vast production network generates massive industrial data, which is essential for training industrial AI.
AI's Societal Impact: Tsai emphasized that the ultimate goal of AI is to not only develop advanced models but also to make AI applications widely accessible for societal benefits.
4.5
03-13aastocksHKD8B Net Inflow to TRACKER FUND from Southbound Trading
Southbound Trading Inflows: TRACKER FUND (02800.HK) saw significant net inflows of HKD8 billion, with HKD5.9 billion from Shanghai-Hong Kong Stock Connect and HKD2.1 billion from Shenzhen-Hong Kong Stock Connect.
Short Selling Activity: The short selling for TRACKER FUND reached $9.87 billion, with a ratio of 48.692%, while other notable stocks like HSCEI ETF and TENCENT also experienced substantial short selling.
Net Outflows: BABA-W (09988.HK) recorded the highest net outflow of HKD287.3 million, while HUA HONG SEMI (01347.HK) had a net outflow of HKD242.4 million.
Overall Trading Summary: The total Southbound Trading net outflow was HKD0, accounting for 47.17% of the total transaction amount of HKD116.3 billion.
Money Flow
Over the past 66 trading days, overall net money flow is -641.88M, with retail investors contributing -16.93M and major investors adding -1.64B.
Net Buy $ Volume
Net Sell $ Volume
Jefferies
Jefferies
Buy
maintain
$212 -> $185
2026-04-09
Reason
Jefferies maintains a Buy rating on BABA-W due to expectations of strong growth in its cloud business, particularly driven by MaaS and the success of the recent Happy Horse launch. However, they have lowered their target prices for the stock.
Jefferies
Buy
Price Target
$212 -> $185
2026-04-09
maintain
Jefferies maintains a Buy rating on BABA-W due to expectations of strong growth in its cloud business, particularly driven by MaaS and the success of the recent Happy Horse launch. However, they have lowered their target prices for the stock.
JPMorgan
JPMorgan
Overweight
maintain
$200 -> $195
2026-04-09
Reason
JPMorgan maintains an Overweight rating on BABA-W due to expectations of cloud revenue growth and the potential for improved e-commerce fundamentals. However, they anticipate initial underperformance in share price due to CMR figures and express concerns about overinvestment in Qianwen. They believe that if management can effectively manage spending expectations, this quarter could mark a turning point for earnings.
JPMorgan
Overweight
Price Target
$200 -> $195
2026-04-09
maintain
JPMorgan maintains an Overweight rating on BABA-W due to expectations of cloud revenue growth and the potential for improved e-commerce fundamentals. However, they anticipate initial underperformance in share price due to CMR figures and express concerns about overinvestment in Qianwen. They believe that if management can effectively manage spending expectations, this quarter could mark a turning point for earnings.
UBS
UBS
Buy
downgrade
$185 -> $166
2026-04-09
Reason
UBS has maintained a Buy rating for Alibaba despite lowering its FY2026-28 adjusted EPS forecasts by 8-21% due to increased investments in AI. The firm expects flat revenue growth in e-commerce and significant EBITA losses from other businesses, but projects strong growth in cloud revenue and a narrowing of international commerce losses.
UBS
Buy
Price Target
$185 -> $166
2026-04-09
downgrade
UBS has maintained a Buy rating for Alibaba despite lowering its FY2026-28 adjusted EPS forecasts by 8-21% due to increased investments in AI. The firm expects flat revenue growth in e-commerce and significant EBITA losses from other businesses, but projects strong growth in cloud revenue and a narrowing of international commerce losses.
Citi
Buy
maintain
$204
2026-04-09
Reason
Citi maintains a Buy rating on BABA-W due to expected growth in cloud revenue and a faster-than-expected narrowing of losses from Taobao Instant Commerce, despite a change in accounting policy affecting reported CMR growth. The target price for H-shares has been raised to HKD204 to reflect upward revisions in e-commerce EBITA forecasts.
Citi
Buy
Price Target
$204
2026-04-09
maintain
Citi maintains a Buy rating on BABA-W due to expected growth in cloud revenue and a faster-than-expected narrowing of losses from Taobao Instant Commerce, despite a change in accounting policy affecting reported CMR growth. The target price for H-shares has been raised to HKD204 to reflect upward revisions in e-commerce EBITA forecasts.
JPMorgan
JPMorgan
maintain
$200
2026-03-25
Reason
JPMorgan increased its confidence in BABA-W's long-term investment strategy after an investor meeting, noting that current profit pressures are due to strategic investments in AI, cloud, and quick commerce. While short-term share price revaluation confidence remains unchanged, the firm is optimistic about BABA-W's growth potential over the next 12 months, particularly in AI infrastructure and cloud business. They maintained an Overweight rating with a target price of $200.
JPMorgan
Price Target
$200
2026-03-25
maintain
JPMorgan increased its confidence in BABA-W's long-term investment strategy after an investor meeting, noting that current profit pressures are due to strategic investments in AI, cloud, and quick commerce. While short-term share price revaluation confidence remains unchanged, the firm is optimistic about BABA-W's growth potential over the next 12 months, particularly in AI infrastructure and cloud business. They maintained an Overweight rating with a target price of $200.
JP Morgan
JP Morgan
Overweight
maintain
$215 -> $205
2026-03-23
Reason
The analyst rating from JP Morgan for Alibaba (BABA-W) is based on the observation that the market is undervaluing the stock by pricing it primarily on its domestic e-commerce earnings, while overlooking the potential value of Alibaba Cloud and quick commerce platforms. Despite a forecasted domestic e-commerce profit of approximately RMB196 billion for FY27, the report highlights that the significant growth in Alibaba Cloud's revenue, particularly driven by AI products, is not being reflected in the stock's valuation. Consequently, JP Morgan has adjusted its revenue and earnings forecasts downward but maintained an Overweight rating, indicating a belief in the stock's potential despite the recent adjustments.
JP Morgan
Overweight
Price Target
$215 -> $205
2026-03-23
maintain
The analyst rating from JP Morgan for Alibaba (BABA-W) is based on the observation that the market is undervaluing the stock by pricing it primarily on its domestic e-commerce earnings, while overlooking the potential value of Alibaba Cloud and quick commerce platforms. Despite a forecasted domestic e-commerce profit of approximately RMB196 billion for FY27, the report highlights that the significant growth in Alibaba Cloud's revenue, particularly driven by AI products, is not being reflected in the stock's valuation. Consequently, JP Morgan has adjusted its revenue and earnings forecasts downward but maintained an Overweight rating, indicating a belief in the stock's potential despite the recent adjustments.
Citi
Citi
maintain
$195 -> $199
2026-03-20
Reason
The analyst rating for Alibaba (BABA-W) was maintained as a "Buy" due to several positive factors highlighted in the report. Despite trailing behind forecasts for its 3QFY26 results, management expressed confidence in the future growth of AI and cloud revenue, projecting it to exceed USD100 billion within five years. This growth is expected to be driven by MaaS platforms and enterprise solutions, with a compound annual growth rate (CAGR) exceeding 40%. Additionally, the recovery of CMR to over 6% growth in 4QFY26 and ongoing improvements in EBITA further supported the positive outlook. Consequently, the broker raised the target prices for Alibaba's H-shares and US stock, reinforcing the bullish sentiment.
Citi
Price Target
$195 -> $199
2026-03-20
maintain
The analyst rating for Alibaba (BABA-W) was maintained as a "Buy" due to several positive factors highlighted in the report. Despite trailing behind forecasts for its 3QFY26 results, management expressed confidence in the future growth of AI and cloud revenue, projecting it to exceed USD100 billion within five years. This growth is expected to be driven by MaaS platforms and enterprise solutions, with a compound annual growth rate (CAGR) exceeding 40%. Additionally, the recovery of CMR to over 6% growth in 4QFY26 and ongoing improvements in EBITA further supported the positive outlook. Consequently, the broker raised the target prices for Alibaba's H-shares and US stock, reinforcing the bullish sentiment.
CICC
Outperform
to
NULL
downgrade
$197 -> $172
2026-03-20
Reason
The analyst rating for BABA-W (09988.HK) remains at "Outperform" despite a reduction in the target price by 13% to HKD172. This decision is based on the company's revenue growth of 1.7% YoY, which, while below expectations, still shows some positive momentum. Additionally, the report highlights that the cloud business revenue growth has accelerated to 36%, indicating potential for future growth. However, the underperformance in both China and international e-commerce, along with significant reductions in adjusted EBITA, contributed to the cautious outlook reflected in the target price adjustment.
CICC
Outperform
to
NULL
Price Target
$197 -> $172
2026-03-20
downgrade
The analyst rating for BABA-W (09988.HK) remains at "Outperform" despite a reduction in the target price by 13% to HKD172. This decision is based on the company's revenue growth of 1.7% YoY, which, while below expectations, still shows some positive momentum. Additionally, the report highlights that the cloud business revenue growth has accelerated to 36%, indicating potential for future growth. However, the underperformance in both China and international e-commerce, along with significant reductions in adjusted EBITA, contributed to the cautious outlook reflected in the target price adjustment.
JP Morgan
JP Morgan
Overweight
maintain
$210
2026-03-20
Reason
JP Morgan maintained an Overweight rating on BABA-W (09988.HK) despite a disappointing adjusted net profit that plummeted by 67% YoY, primarily due to higher-than-expected cost pressures and a weakening short-term profit trajectory. The firm noted that key revenue segments, such as CMR and cloud, largely met investor expectations, indicating that the core narrative of cyclically slowing commerce monetization and solid AI/cloud demand remains intact. This suggests that while there are challenges, the overall outlook for the company is still positive, leading to the Overweight rating and a target price of HKD210.
JP Morgan
Overweight
Price Target
$210
2026-03-20
maintain
JP Morgan maintained an Overweight rating on BABA-W (09988.HK) despite a disappointing adjusted net profit that plummeted by 67% YoY, primarily due to higher-than-expected cost pressures and a weakening short-term profit trajectory. The firm noted that key revenue segments, such as CMR and cloud, largely met investor expectations, indicating that the core narrative of cyclically slowing commerce monetization and solid AI/cloud demand remains intact. This suggests that while there are challenges, the overall outlook for the company is still positive, leading to the Overweight rating and a target price of HKD210.
Morgan Stanley
Morgan Stanley
Overweight
maintain
$180
2026-03-20
Reason
The analyst rating from Morgan Stanley for Alibaba (BABA.US) is maintained as Overweight due to several factors. The company's total revenue for 3QFY26 showed a 2% year-over-year increase, which was broadly in line with expectations. Additionally, the cloud revenue grew by 36% year-over-year, and AI-related revenue continued to achieve triple-digit growth for ten consecutive quarters. Despite a significant slump in adjusted EBITA, which fell short of forecasts, the overall revenue growth and positive trends in cloud and AI segments contributed to Morgan Stanley's favorable outlook, leading to a target price of USD180.
Morgan Stanley
Overweight
Price Target
$180
2026-03-20
maintain
The analyst rating from Morgan Stanley for Alibaba (BABA.US) is maintained as Overweight due to several factors. The company's total revenue for 3QFY26 showed a 2% year-over-year increase, which was broadly in line with expectations. Additionally, the cloud revenue grew by 36% year-over-year, and AI-related revenue continued to achieve triple-digit growth for ten consecutive quarters. Despite a significant slump in adjusted EBITA, which fell short of forecasts, the overall revenue growth and positive trends in cloud and AI segments contributed to Morgan Stanley's favorable outlook, leading to a target price of USD180.
Valuation Metrics
Forward PE
5Y Average PE
12.34
Current PE
20.20
Overvalued PE
17.18
Undervalued PE
7.49
Forward EV/EBITDA
N/A
5Y Average EV/EBITDA
9.34
Current EV/EBITDA
0.00
Overvalued EV/EBITDA
13.58
Undervalued EV/EBITDA
5.09
Forward PS
N/A
5Y Average PS
1.98
Current PS
0.00
Overvalued PS
2.70
Undervalued PS
1.26
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