Alibaba Analysts Look For Signs Of Q4 Rebound: 'Cloud Business Could Record Double-Digit Growth In 2025'
Portfolio Pulse from Priya Nigam
Alibaba Group Holding Ltd (NYSE:BABA) reported its fiscal fourth-quarter results, showing double-digit year-on-year growth in gross merchandise value (GMV) but a decline in consolidated EBITA due to higher investments. Analysts from Mizuho, Truist, and Benchmark maintained Buy ratings but reduced their price targets. The Cloud business is expected to see double-digit growth in fiscal 2025.
May 15, 2024 | 3:39 pm
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Alibaba reported double-digit GMV growth but lower EBITA due to higher investments. Analysts from Mizuho, Truist, and Benchmark maintained Buy ratings but reduced their price targets. The Cloud business is expected to see double-digit growth in fiscal 2025.
The positive growth in GMV and the expected future growth in the Cloud business are encouraging signs for investors. However, the reduction in price targets and lower EBITA due to investments may temper short-term enthusiasm.
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