在年度投资者日活动结束后,阿里巴巴股价上涨

在年度投资者日活动结束后,阿里巴巴股价上涨
Alibaba Stock Climbs As It Wraps Up Annual Investor Day Event

Alibaba stock jumped Wednesday as the China e-commerce giant wrapped up its annual three-day conference and noted that its cloud-computing unit will be profitable by the end of this fiscal year.

Alibaba (BABA) said it expects its cloud-computing business to turn a profit by the time the fiscal year ends March 31. Also, the company expects its Cainiao logistics arm to turn operating cash flow positive in the current fiscal year.

Meanwhile, Alibaba stock surged 6.2% to close at 293.98 on the stock market today.

Raymond James analyst Aaron Kessler reiterated a strong buy on Alibaba stock.

“Alibaba’s opportunity remains massive across domestic consumption, cloud computing, data intelligence and globalization,” Kessler wrote in a note to clients.
Alibaba Stock: Consumption Driving Growth

And in their presentation, Alibaba executives said domestic revenue is the biggest driver for future growth as it continues tapping into China’s massive consumer base.

Said Kessler, “Covid-19 has changed consumer behaviors with new consumption categories such as grocery, fresh food, wellness and health care products seeing strong online sales.”

RBC Capital Markets analyst Mark Mahaney maintained a rating of outperform on Alibaba stock with a price target of 300.

Additionally, in his note to clients he said Alibaba believes China’s cloud adoption is still in the early innings. He said he sees enormous potential for future expansion.

“Growth of the overall cloud market just getting started,” he wrote.

Cloud computing has been one of Alibaba’s fastest-growing business units. In the June quarter, cloud-computing revenue jumped 59% from the year-ago quarter to $1.75 billion. However, it only accounts for 8% of Alibaba’s total revenue.

According to the IBD Stock Checkup, Alibaba stock shows a best-possible 99 IBD Composite Rating.

Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.

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