maybe it’s fake
Alibaba (NYSE:BabyInvestment firm Baird said the company is seeing some “early momentum” as it shifts its focus to focus more on customers, evidenced by its fourth-quarter results.
“As part of management’s strategic focus, Alibaba is committed to regaining e-commerce market share “China, and leveraging momentum in international commerce and cloud computing, is building on strong growth in cross-border transaction volumes,” analyst Colin Sebastian wrote in an investor note. Accelerate public cloud revenue.
Sebastian has an outperform rating and $85 price target on Alibaba.
Alibaba said earlier this week that fourth-quarter adjusted earnings per American depositary share fell 5% year-on-year to 10.71 yuan ($1.40), below expectations. Revenue exceeded expectations, increasing 7% year-on-year to 208.2B or $30.73B.
Sebastian called fourth-quarter results “solid,” adding that its investments in customer experience and product selection helped increase market share.
Sebastian added: “In addition, international e-commerce is growing rapidly, and Alibaba Cloud should re-accelerate its development, focusing on public cloud and AI/Gen-AI capabilities, where demand currently exceeds capacity.”
