Speaking to Benzinga, Morningstar Analyst RJ Hottovy said that he expects Alibaba Group Holding Ltd BABA to continue with top-line strength similar to previous quarters.
Hottovy also expected with "impressive growth" in new users and a "higher engagement" among users, including a "higher take-rate among its mobile users."
Profitability will likely be down due to investments in proprietary mobile technologies, digital content and other areas where the company is focused on growing, according to Hottovy.
The company will report Q4 earnings on January 29.
Alibaba Group Holding Ltd closed at $103.99 Monday, up 0.85 percent.
Kevin Riley and Brianna Valleskey contributed to this report.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
