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09988
BABA-W
HKD
131.6005.300
(4.20%)
1D
AI Analysis for 09988
AI Analysis
High
132.000
Open
126.900
VWAP
129.23
Vol
52.85M
Mkt Cap
3.06T
Low
126.500
Amount
6.83B
EV/EBITDA(TTM)
29.69
Total Shares
19.10B
EV
624.95B
EV/OCF(TTM)
34.88
P/S(TTM)
2.28
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 nine segments. The China Commerce Retail segment is engaged in the China commerce retail business. The China Commerce Wholesale segment is mainly engaged in the operation of 1688.com. The Cloud Intelligence segment provides cloud services. The International Commerce Retail segment provides customer management services, sales of goods and logistics services. The International Commerce Wholesale segment is mainly engaged in the operation of Alibaba.com. The Cainiao Represents Logistics Services segment provides fulfilment services. The Local Services segment’s revenue includes platform commissions, logistics services revenue. The Digital Media and Entertainment segment engages in the operation of Youku and Alibaba. The All Others segment is mainly engaged in the Sun Art, Freshippo and other business.
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News
5.0
03-05aastocksAlibaba Addresses Speculations About Qwen Model Team Resignation: Team Remains Stable, Services Continue as Usual
Clarification on Qwen Model Team: Alibaba has confirmed that the Qwen model team is stable and there has been no collective resignation, with all products and services functioning normally.
Commitment to Open-Source Strategy: The company reiterated its commitment to an open-source strategy for the Qwen model, emphasizing that the team is not bound by commercialization KPIs and aims to advance model intelligence towards AGI.
2.0
03-05aastocksShort Selling Activity Reaches $51.4B, Representing 18.4% of Total Eligible Securities Turnover at Market Close
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $51.4 billion, accounting for 18.4% of the eligible securities turnover, a decrease from 20.8% on the previous trading day.
Top Short Selling Shares: The top five shares with the highest short selling amounts include TRACKER FUND (02800.HK) at $5.22B, BABA-W (09988.HK) at $2.77B, CSOP HS TECH (03033.HK) at $2.09B, TENCENT (00700.HK) at $1.95B, and HSCEI ETF (02828.HK) at $1.79B.
Short Selling Ratios: The short selling ratios for these top shares are TRACKER FUND at 13.7%, BABA-W at 16.1%, CSOP HS TECH at 18.5%, TENCENT at 16%, and HSCEI ETF at 10.7%.
Market Data Delay: It is noted that the stock quotes for Hong Kong stocks are delayed by at least 15 minutes, with the short selling data recorded as of March 5, 2026.
5.0
03-05aastocksDeepMind from Google Offers Positions to Alibaba's Qianwen Team
Job Offer from DeepMind: Omar Sanseviero, head of Google's DeepMind, invited members of the Qianwen team to join their development efforts in the open model ecosystem via social media.
Future Development Plans: Sanseviero highlighted that there are many exciting elements on their development roadmap, indicating significant work ahead for the team.
Market Insights from UBS: UBS reported that if China successfully achieves reflation, the stock market could potentially rise by 20%, advising a reduction in exposure to the internet sector.
Resignation at Tongyi Lab: Junyang Lin's resignation from the Tongyi Lab has been approved, as reported in related news.
2.0
03-05aastocksShort Selling Activity Reaches $25B, Accounting for 18.1% of Eligible Securities Turnover by Midday
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $25 billion at midday, accounting for 18.1% of the eligible securities turnover, a decrease from 20.8% on the previous trading day.
Top Short Selling Stocks: The top five stocks with the highest short selling amounts include TRACKER FUND (02800.HK), BABA-W (09988.HK), TENCENT (00700.HK), HSCEI ETF (02828.HK), and CSOP HS TECH (03033.HK), with short selling ratios ranging from 10.7% to 19.5%.
TRACKER FUND Performance: TRACKER FUND had a short selling amount of $1.99 billion, with a ratio of 11.046%, showing a slight increase in value.
BABA-W and TENCENT Trends: BABA-W experienced a short selling amount of $1.58 billion with a 19.452% ratio, while TENCENT had a short selling amount of $1.06 billion with a 16.639% ratio, indicating significant short interest in these stocks.
5.0
03-05aastocksBABA-W Eddie Wu: Junyang Lin's Resignation Granted; New Support Group for Foundation Models to Be Formed
Resignation of Technical Head: Junyang Lin, the technical head of Alibaba's Qianwen large model, has resigned unexpectedly, along with two other team members, prompting Alibaba CEO Eddie Wu to confirm the resignation and outline future leadership plans.
Foundation Model Support Group: Alibaba plans to establish a foundation model support group to enhance its AI development, led by Wu, CTO Jingren Zhou, and Yu Fan, while maintaining its open-source strategy and increasing R&D investment.
Talent Recruitment Strategy: The company aims to recruit more top technical talent to improve the foundation model team, which led to adjustments in Lin's responsibilities that he did not accept, resulting in his departure.
Clarification on Open-Source Strategy: Despite Lin's resignation, Alibaba has reiterated that it will continue its open-source strategy for Qianwen and has not set specific commercialization targets for the foundation model team.
Money Flow
Over the past 66 trading days, overall net money flow is -976.87M, with retail investors contributing 173.35M and major investors adding -1.02B.
Net Buy $ Volume
Net Sell $ Volume
JPMorgan
JPMorgan
Overweight
maintain
$210
2026-03-05
New
Reason
The analyst rating for BABA-W (09988.HK) was influenced by concerns regarding execution risk due to significant structural changes within the Qwen research team, including the resignation of key personnel. JPMorgan noted that this situation could disrupt the shipment pace and organizational output capacity in the short term. Despite these concerns, they did not view it as a break in the long-term investment thesis for Qwen as a brand. As a result, they rated BABA-W's H-shares at Overweight, with a target price of $210, reflecting a positive outlook despite the short-term risks.
JPMorgan
Overweight
Price Target
$210
2026-03-05
maintain
New
The analyst rating for BABA-W (09988.HK) was influenced by concerns regarding execution risk due to significant structural changes within the Qwen research team, including the resignation of key personnel. JPMorgan noted that this situation could disrupt the shipment pace and organizational output capacity in the short term. Despite these concerns, they did not view it as a break in the long-term investment thesis for Qwen as a brand. As a result, they rated BABA-W's H-shares at Overweight, with a target price of $210, reflecting a positive outlook despite the short-term risks.
BOCI
BOCI
maintain
$172
2026-02-27
Reason
The analyst rating for Baidu (BIDU.US) is maintained as a "Buy" due to several factors highlighted in the BOCI research report. Despite a 4% year-over-year shrinkage in total revenue for the fourth quarter of 2025, the company's performance aligned with market expectations, and there was a 5% quarter-over-quarter increment. Notably, the core A-enabled business revenue was significant, accounting for 43% of Baidu's core business revenue. Additionally, both adjusted operating profit and adjusted net profit exceeded market expectations by 13%, driven by strong gross profit performance. The ongoing shareholder return executions also contributed to the positive outlook, leading the broker to set a target price of USD172 for Baidu's US shares.
BOCI
Price Target
$172
2026-02-27
maintain
The analyst rating for Baidu (BIDU.US) is maintained as a "Buy" due to several factors highlighted in the BOCI research report. Despite a 4% year-over-year shrinkage in total revenue for the fourth quarter of 2025, the company's performance aligned with market expectations, and there was a 5% quarter-over-quarter increment. Notably, the core A-enabled business revenue was significant, accounting for 43% of Baidu's core business revenue. Additionally, both adjusted operating profit and adjusted net profit exceeded market expectations by 13%, driven by strong gross profit performance. The ongoing shareholder return executions also contributed to the positive outlook, leading the broker to set a target price of USD172 for Baidu's US shares.
JPMorgan
JPMorgan
Overweight
maintain
$210
2026-01-23
Reason
The analyst rating from JPMorgan for BABA-W (09988.HK) is maintained at "Overweight" due to the potential value unlocking through the spin-off and separate listing of its AI chip division, T-Head. The report suggests that while the spin-off could significantly enhance BABA-W's valuation, the company will need time to establish independent governance and client relationships before proceeding. This cautious optimism, combined with a target price of $210, reflects the belief in BABA-W's long-term growth potential despite the challenges ahead.
JPMorgan
Overweight
Price Target
$210
2026-01-23
maintain
The analyst rating from JPMorgan for BABA-W (09988.HK) is maintained at "Overweight" due to the potential value unlocking through the spin-off and separate listing of its AI chip division, T-Head. The report suggests that while the spin-off could significantly enhance BABA-W's valuation, the company will need time to establish independent governance and client relationships before proceeding. This cautious optimism, combined with a target price of $210, reflects the belief in BABA-W's long-term growth potential despite the challenges ahead.
JPMorgan
JPMorgan
Overweight
downgrade
$230 -> $215
2026-01-09
Reason
JPMorgan's research report provided a constructive view on Alibaba (BABA-W) and recommended an Overweight rating based on the expectation that the company's share price will overcome short-term profit pressures. The analysts believe that a re-rating will occur once the monetization inflection point of Alibaba's cloud business and generative AI becomes more evident. They anticipate that Alibaba Cloud's revenue growth will accelerate as generative AI workloads transition from pilot phases to broader deployments, indicating the company's capability to capture AI-driven demand in China.
However, the report also noted a reduction in earnings per share (EPS) forecasts for 2027 and 2028 due to increased investments in various sectors and challenges in domestic e-commerce monetization amid sluggish consumer spending. This suggests that while the long-term outlook remains positive, there are short-term challenges that could lead to further earnings declines and increased volatility in trading.
JPMorgan
Overweight
Price Target
$230 -> $215
2026-01-09
downgrade
JPMorgan's research report provided a constructive view on Alibaba (BABA-W) and recommended an Overweight rating based on the expectation that the company's share price will overcome short-term profit pressures. The analysts believe that a re-rating will occur once the monetization inflection point of Alibaba's cloud business and generative AI becomes more evident. They anticipate that Alibaba Cloud's revenue growth will accelerate as generative AI workloads transition from pilot phases to broader deployments, indicating the company's capability to capture AI-driven demand in China.
However, the report also noted a reduction in earnings per share (EPS) forecasts for 2027 and 2028 due to increased investments in various sectors and challenges in domestic e-commerce monetization amid sluggish consumer spending. This suggests that while the long-term outlook remains positive, there are short-term challenges that could lead to further earnings declines and increased volatility in trading.
Morningstar
Morningstar
maintain
$251 -> $258
2025-11-27
Reason
The analyst rating for BABA-W (09988.HK) is influenced by several key factors outlined in the article. Morningstar's report highlights that despite a significant QoQ decline in adjusted EBITA, the management's forecast for the cloud intelligence business indicates a shift from 'accelerating' to 'high' revenue growth. The guidance for customer management revenue aligns with expectations, suggesting stability in that area.
Moreover, the broker believes that the company's business possesses a wide moat, indicating a competitive advantage, and that the market is underestimating the management's strong execution and the potential of the cloud business. This combination of factors leads to the conclusion that the company's value is still undervalued, with a fair value estimate significantly higher than the current stock price. Thus, the analyst maintains a positive outlook on BABA-W, reflecting confidence in its long-term growth potential despite short-term challenges.
Morningstar
Price Target
$251 -> $258
2025-11-27
maintain
The analyst rating for BABA-W (09988.HK) is influenced by several key factors outlined in the article. Morningstar's report highlights that despite a significant QoQ decline in adjusted EBITA, the management's forecast for the cloud intelligence business indicates a shift from 'accelerating' to 'high' revenue growth. The guidance for customer management revenue aligns with expectations, suggesting stability in that area.
Moreover, the broker believes that the company's business possesses a wide moat, indicating a competitive advantage, and that the market is underestimating the management's strong execution and the potential of the cloud business. This combination of factors leads to the conclusion that the company's value is still undervalued, with a fair value estimate significantly higher than the current stock price. Thus, the analyst maintains a positive outlook on BABA-W, reflecting confidence in its long-term growth potential despite short-term challenges.
CMBI
CMBI
Buy
downgrade
2025-11-26
Reason
The analyst rating for BABA-W (09988.HK) is maintained at "Buy" by CMBI due to several factors. The company's revenue for 2FQ26 was RMB247.8 billion, which exceeded expectations, particularly driven by a strong performance in the cloud business, which grew by 34% YoY. CMBI also noted that the company's plan to reduce losses in the instant retail business aligns with market forecasts. Despite a slight decrease in the target price from US$209.4 to US$206.4, CMBI continues to view BABA-W as a core beneficiary in the AI sector, supporting their positive rating.
CMBI
Buy
Price Target
2025-11-26
downgrade
The analyst rating for BABA-W (09988.HK) is maintained at "Buy" by CMBI due to several factors. The company's revenue for 2FQ26 was RMB247.8 billion, which exceeded expectations, particularly driven by a strong performance in the cloud business, which grew by 34% YoY. CMBI also noted that the company's plan to reduce losses in the instant retail business aligns with market forecasts. Despite a slight decrease in the target price from US$209.4 to US$206.4, CMBI continues to view BABA-W as a core beneficiary in the AI sector, supporting their positive rating.
HSBC
HSBC Global Research
Buy
maintain
$205
2025-11-26
Reason
The analyst rating from HSBC Global Research for BABA-W (09988.HK) is based on the encouraging growth of its cloud business, which accelerated to 34% year-over-year. The report highlights strong demand for AI, which is expected to continue driving robust growth in the cloud sector. The expanding backlog of AI-related demand indicates that demand exceeds supply, suggesting significant growth potential. As a result, HSBC raised its revenue forecasts for the cloud business for FY2026-2028 by 2-6%. Despite minor adjustments to overall estimations, the broker maintained a "Buy" rating and set a target price of US$205 for BABA-W's US stock and $200 for its H-shares.
HSBC
Buy
Price Target
$205
2025-11-26
maintain
The analyst rating from HSBC Global Research for BABA-W (09988.HK) is based on the encouraging growth of its cloud business, which accelerated to 34% year-over-year. The report highlights strong demand for AI, which is expected to continue driving robust growth in the cloud sector. The expanding backlog of AI-related demand indicates that demand exceeds supply, suggesting significant growth potential. As a result, HSBC raised its revenue forecasts for the cloud business for FY2026-2028 by 2-6%. Despite minor adjustments to overall estimations, the broker maintained a "Buy" rating and set a target price of US$205 for BABA-W's US stock and $200 for its H-shares.
BOCI
Buy
maintain
$187 -> $182
2025-11-26
Reason
The analyst rating for Alibaba (BABA-W) is maintained as a "Buy" due to the company's solid 2QFY26 results, which showed a robust core business. The report highlighted a 5% year-over-year increase in total revenue, driven by a 10% increase in China's core e-commerce and a 34% growth in the cloud business. Despite a slight reduction in total revenue forecasts for FY2027-28, the net profit forecast remains largely unchanged, indicating confidence in the company's performance. The target prices set by the broker further reflect their positive outlook on Alibaba's future growth.
BOCI
Buy
Price Target
$187 -> $182
2025-11-26
maintain
The analyst rating for Alibaba (BABA-W) is maintained as a "Buy" due to the company's solid 2QFY26 results, which showed a robust core business. The report highlighted a 5% year-over-year increase in total revenue, driven by a 10% increase in China's core e-commerce and a 34% growth in the cloud business. Despite a slight reduction in total revenue forecasts for FY2027-28, the net profit forecast remains largely unchanged, indicating confidence in the company's performance. The target prices set by the broker further reflect their positive outlook on Alibaba's future growth.
Nomura
Nomura
NULL
to
Buy
upgrade
$135 -> $140
2025-11-20
Reason
Nomura upgraded Baidu (BIDU.US) to a Buy rating primarily due to the growth potential of its chip design subsidiary, Kunlunxin (KLX), which is recognized as a leading domestic chip designer. The firm highlighted the favorable market conditions for KLX, particularly in light of restrictions on overseas procurement of advanced chips, positioning KLX to benefit from the increasing demand for AI technologies. Additionally, Baidu's significant increase in subscription revenue from its AI high-performance computing facility, which surged by 128% in the third quarter, further bolstered Nomura's positive outlook. The broker projected substantial revenue growth for KLX in the coming years, estimating revenues of RMB2.6 billion and RMB5.4 billion for FY2025 and FY2026, respectively. However, it was noted that Baidu's advertising business remains weak, and while new initiatives are being implemented, they are not expected to sufficiently reverse the downward trend in that segment.
Nomura
NULL
to
Buy
Price Target
$135 -> $140
2025-11-20
upgrade
Nomura upgraded Baidu (BIDU.US) to a Buy rating primarily due to the growth potential of its chip design subsidiary, Kunlunxin (KLX), which is recognized as a leading domestic chip designer. The firm highlighted the favorable market conditions for KLX, particularly in light of restrictions on overseas procurement of advanced chips, positioning KLX to benefit from the increasing demand for AI technologies. Additionally, Baidu's significant increase in subscription revenue from its AI high-performance computing facility, which surged by 128% in the third quarter, further bolstered Nomura's positive outlook. The broker projected substantial revenue growth for KLX in the coming years, estimating revenues of RMB2.6 billion and RMB5.4 billion for FY2025 and FY2026, respectively. However, it was noted that Baidu's advertising business remains weak, and while new initiatives are being implemented, they are not expected to sufficiently reverse the downward trend in that segment.
CMSI
CMSI
maintain
2025-11-18
Reason
The analyst rating for Alibaba (BABA-W, 09988.HK) is a Buy, as reiterated by CMSI. The reasons for this rating include:
1. Launch of Qianwen APP: Alibaba has officially launched its flagship AI application, which is positioned as a powerful AI assistant with features like conversational interaction, intelligent writing, and a multimodal camera.
2. Competitive Advantage: CMSI believes that Alibaba's self-built full-ecosystem product system and its free strategy provide a competitive edge over models like ChatGPT, which rely on third-party applications.
3. Strong Execution and Business Synergy: The company's strong execution capabilities and business synergy contribute to its position as a core beneficiary in the AI sector.
4. Full-Stack Technical Product System: Alibaba's comprehensive technical product system enhances its competitive position in the market.
5. Focus on User Growth: There is an emphasis on monitoring daily active user growth, which is crucial for the app's success and overall business performance.
Overall, these factors lead CMSI to consider Alibaba a top pick in the market.
CMSI
Price Target
2025-11-18
maintain
The analyst rating for Alibaba (BABA-W, 09988.HK) is a Buy, as reiterated by CMSI. The reasons for this rating include:
1. Launch of Qianwen APP: Alibaba has officially launched its flagship AI application, which is positioned as a powerful AI assistant with features like conversational interaction, intelligent writing, and a multimodal camera.
2. Competitive Advantage: CMSI believes that Alibaba's self-built full-ecosystem product system and its free strategy provide a competitive edge over models like ChatGPT, which rely on third-party applications.
3. Strong Execution and Business Synergy: The company's strong execution capabilities and business synergy contribute to its position as a core beneficiary in the AI sector.
4. Full-Stack Technical Product System: Alibaba's comprehensive technical product system enhances its competitive position in the market.
5. Focus on User Growth: There is an emphasis on monitoring daily active user growth, which is crucial for the app's success and overall business performance.
Overall, these factors lead CMSI to consider Alibaba a top pick in the market.
Valuation Metrics
Forward PE
5Y Average PE
12.76
Current PE
20.20
Overvalued PE
18.13
Undervalued PE
7.39
Forward EV/EBITDA
N/A
5Y Average EV/EBITDA
9.76
Current EV/EBITDA
0.00
Overvalued EV/EBITDA
14.58
Undervalued EV/EBITDA
4.93
Forward PS
N/A
5Y Average PS
2.07
Current PS
0.00
Overvalued PS
2.93
Undervalued PS
1.21
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