Nasdaq BABA Alibaba

ContextLogic (NASDAQ: WISH), the parent company of the e-commerce platform Wish, went public at $24 per share nearly a year ago. On Dec. 3, its shares slumped to an all-time low of $3.15.

According to a report published by Reuters, Alibaba Group Holding Ltd. (BABA) is planning to reorganize its domestic and international E-commerce businesses to boost growth amid a regulatory crackdown, slowing economy and increasing competition. The tech giant’s shares gained 10.4% on Monday to close at $123.60.

The company offers consumer-to-consumer, business-to-consumer, and business-to-business sales services. It also provides electronic payment services, shopping search engines and cloud computing services.

Reorganization Plans

Alibaba plans to break its E-commerce business into two units — China digital commerce and international digital commerce. (See Insiders’ Hot Stocks on TipRanks)

Led by Jiang Fan, who had been in charge of Chinese retail marketplaces, the international unit will include Alibaba.com, AliExpress and Southeast Asian E-commerce business Lazada.

Further, Trudy Dai will lead the China digital commerce unit, which will include Taobao and Tmall. Earlier, Dai was overseeing several of the Chinese firm’s platforms.

The reorganization is in line with Alibaba’s aim to focus on globalization, along with domestic consumer spending and cloud computing.

Analyst Comments

Commenting on the company’s plans, Hong Kong-based Guotai Junan analyst Danny Law said, “Globalization helps Alibaba to get new traffic volume externally (and) seek new growth potential while China has been increasing supervision.”

Additionally, 86research.com analyst Xiaoyan Wang said, “The new structure for domestic E-commerce puts Dai in charge of all China retail marketplaces, including Taocaicai - its community E-commerce service, Taobao Deals as well as Lingshoutong, a retail management platform for mom and pop stores.”

“This could possibly unlock more synergies via cross-selling and integration of supply chain,” Wang added.

Wall Street’s Take

Last month, Goldman Sachs (GS) analyst Piyush Mubayi reiterated a Buy rating on the stock but reduced the price target from $252 to $215 (74% upside potential).

The analyst said, “Alibaba has been increasing its investments on both defensive-offensive strategies amid slowing retail spending and budding competition to acquire new users, build multiple traffic sources, and in the shorter term, raise merchant subsidies to retain merchants.”

Mubayi expects the company’s revenue growth to slow down to 13% in the third quarter of Fiscal Year 2022 and 16% in the fourth quarter. He also anticipates Alibaba to revise its investment portfolio and continue with the share buybacks.

Overall, the stock has a Strong Buy consensus rating based on 21 Buys and 2 Holds. The average Alibaba Group Holding price target of $212.48 implies around 72% upside potential. Shares have lost 53.2% over the past year.

Website Traffic

TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into Alibaba’s performance.

According to the tool, compared to the previous year, the company’s website traffic registered a nearly 5% increase in global visits in October. Moreover, the website traffic has gone up 3.5% year-to-date against the same period last year.

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What happened Shares of Alibaba Group Holding (NYSE: BABA) were up nearly 9% as of 1:30 ET today, bouncing off the stock's 52-week lows it hit on Friday.

Consumer stocks were higher ahead of Monday's market open as the Consumer Staples Select Sector SPDR Fund (XLP) and the Consumer Discretionary Select Sector SPDR Fund (XLY) were up 0.9% and 0.01% respectively.

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Alibaba (BABA) announced that the company’s Chief Financial Officer (CFO) Maggie Wu will step down from her role, effective April 1, 2022. She will be replaced by Toby Xu, currently serving as the Deputy CFO.

However, Maggie will continue to be the partner in the Alibaba Partnership and will continue to serve as an executive director on the company’s Board.

Shares of Alibaba, the Chinese company that operates online and mobile marketplaces for retail and wholesale trade, have lost 58% over the past year.

Maggie has served Alibaba for almost fifteen years and has made outstanding achievements. She has led three successful company public listings as CFO: Alibaba.com on the Hong Kong Stock Exchange in 2007, and Alibaba Group Holding on the New York Stock Exchange in 2014 as well as on the Hong Kong Stock Exchange in 2019. Toby Xu joined the company 3 years ago and was appointed as the Deputy Group CFO in July 2019.

(See Insiders’ Hot Stocks on TipRanks)

Departing CFO’s Comments

Departing CFO, Maggie Wu, commented, “The announcement of Alibaba’s CFO transition today is the culmination of extensive preparation over many years and a part of Alibaba’s leadership succession planning. We are in a relay race and we must have new generations of talent to take the company forward."

She further added, “I trust Toby even more than I trusted myself when I first took up the CFO position years ago. I am confident that Toby – through his professional capabilities and leadership skills, and together with Daniel and the core management team – will successfully lead our team into the future.”

Management Weighs In

Chairman and CEO of Alibaba Group, Daniel Zhang, commented, “We are focused on the long-term, and succession within our management team on every occasion is always in the service of ensuring Alibaba will be stronger and better positioned for the future,”

Regarding the incoming CFO Toby, he further added, “We are certain that Toby is the right person to serve as our new Group CFO and, together with the core management team, will help lead our team towards our next success.”

Wall Street’s Take

Overall, the stock has a Strong Buy consensus rating based on 21 Buys and 2 Holds. The average Alibaba price target of $212.48 implies 89.78% upside potential.

Bloggers Weigh In

TipRanks data shows that financial blogger opinions are 85% Bullish on BABA against a sector average of 70%.

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(RTTNews) - Alibaba Group Holding Limited (BABA) said that Toby Xu, Deputy Chief Financial Officer, will succeed Maggie Wu as the company's Chief Financial Officer, effective April 1, 2022.

Alibaba Group Holding Ltd said on Monday it was reorganising its international and domestic e-commerce businesses and would appoint a new chief financial officer.

Alibaba Group Holding Ltd said on Sunday that Toby Xu, will succeed Maggie Wu as the company's chief financial officer, effective April 1, 2022.

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