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Alibaba Group Holding Ltd (NYSE: BABA) hosted a “reverse roadshow” meeting, inviting U.S. based equity analysts to visit the company's headquarters in Hangzhou, China. Angela Moh of Morgan Stanley was part of the roadshow meeting which coincided with Tuesday's Singles' Day holiday.
Singles' Day Breakdown: Mobile, International and Data
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Moh notes that Alibaba's focus during the Chinese holiday was less about pushing gross merchandise but more about mobile, international and data.
Mobile accounted for 42.6 percent of Alibaba's total gross merchandise volume, compared to 24 percent a year ago. According to Moh, Alibaba continues to data mine and personalize shopping experiences to cater to the shift.
International exposure and sales is a new concept for Alibaba. Not only was Singles Day positioned as a global consumer day, but Alibaba catered to growing domestic Chinese demand for overseas brands through Alibaba's Tmall Global.
According to Moh, the ability to leverage off data insights is "crucial" as doing so shows consumers more relevant and desirable products. In return, this could help merchants better plan inventory and ensure fulfillment of orders run smoothly given a ramp in volume.
According to Moh, Alibaba is still in its "early days" with a wealth of data from its affiliates (Alipay, Weibo, Youku, etc.) that the company is only beginning to leverage off. The analyst notes that Alibaba could "construct a full scale analytical platform and commercialization of the data could lead to further boost its profitability."
Shares are Overweight rated with a $118.10 price target.
Shares recently traded at $118.98, up 3.8 percent.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.