Alibaba (BABA) Reiterated Outperform at CLSA After Earnings
- Dow hits milestone, S&P breaks record high on tech rally
- Thermo Fisher Scientific (TMO) to Acquire PPD, Inc. (PPD) for $47.50/sh, $17.4 Billion
- U.S. retail sales post largest gain in 10 months; weekly jobless claims fall
- Dell (DELL) Gains on Spin-Off of its 81% Stake in VMware (VMW), Analysts Bulled-Up as It Could Unlock $20 Per Share of Value for DELL
- The Stock Market is Almost 'Completely Broken' - Einhorn
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
CLSA analyst Elinor Leung reiterated a Buy rating and $351.00 price target on Alibaba (NYSE: BABA) after the company reported 3QFY21 (Dec) revenue increased 37% YoY to Rmb221.1bn (+27% YoY, ex-Sun Art), 4.4% above expectations. Adjusted Ebita increased 20.9% YoY to
Rmb61.3bn, 1.7% above our estimate. Core CMR sustained 20.4% YoY growth driven
by Tmall’s GMV and new monetisation. AliCloud and Cainiao also grew a robust c.50%
YoY. The higher investment in core marketplaces was offset by narrowing losses from
new strategic businesses.
The analyst stated "AliCloud revenue sustained robust 50% YoY growth to Rmb16.1bn, driven by revenue from customers in its internet and retail business and public sectors. The segment’s adj. Ebita turned positive for the first time given scale economies. Growth decelerated from 60% YoY in the Jun/Sep quarters, likely due to the timing of revenue recognition. AliCloud will continue to see high growth given the early stage of the market and its technology edge."
announced that it is raising investment while monetization is expected to rise and AliCloud represents a new profit driver.
Shares of Alibaba closed at $265.96 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Wipro Ltd. (WPRO:IN) (WIT) PT Raised to INR450 at CLSA Following Q4 Earnings
- UPDATE: B.Riley Reinstates FuelCell Energy (FCEL) at Neutral
- UPDATE: Goldman Sachs Starts Iovanace Biotherapeutics (IOVA) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!