The company saw a 35% growth in its bottom line for the quarter but its shares have tanked nearly 12.1% over the past month. In response to the results, a number of analysts have reiterated a Buy rating on the stock with Benchmark’s Fawne Jiang seeing a positive catalyst for the company in the form of Alibaba Capital Management plan.
In what are multiple major moves, Alibaba is spinning off its cloud computing unit, and mulling taking its logistics and grocery businesses public. J.P. Morgan noted that Alibaba seems intent on unlocking value for investors as it splits into six different units.
Overall, the Street has a $149 consensus price target on Alibaba alongside a Strong Buy consensus rating.
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