Report
R.J. Hottovy
EUR 147.86 For Business Accounts Only

Alibaba’s Network Effect Continues to Drive Strong Commerce Revenue as Nascent Businesses Take Shape

In our view, two things stood out from Alibaba’s fiscal third-quarter update: the strength of its core commerce segment and greater visibility over the revenue trajectory and investment requirements for emergent businesses like AliCloud and digital media/entertainment. After adjusting our model for the strong top-line results--we now expect revenue to come in slightly ahead of management’s updated target of 53% growth year over year--we plan to raise our $105 fair value estimate by about 5%. Whi...
Underlying
Alibaba Group Holding Ltd. Sponsored ADR

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
R.J. Hottovy

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