Benchmark analyst Fawne Jiang reiterated a Buy rating and $220.00 price target on Alibaba (NYSE: BABA).

The analyst commented, "F1Q27 First Look: solid bottom-line beat; Cloud accelerated. Revenue totaled RMB 269.0B, up 9% y/y, moderately ahead of expectation. Adj. EBITDA was RMB 39.1B, beating consensus expectations by 7%. Specifically, revenue growth of Alibaba China E-commerce Group grew 4% y/y, Cloud accelerated to 45% y/y, a highlight of the Q; International Digital Commerce up 16% y/y; all others up 1% y/y."

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Shares of Alibaba closed at $128.90 yesterday.