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Bob Peck Reviews A Record Singles' Day For Alibaba

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Bob Peck Reviews A Record Singles' Day For Alibaba

Alibaba Group Holding Ltd (NYSE: BABA) Singles' Day on was undoubtedly a hit, raking in nearly $18 billion in gross merchandise value. Singles' Day is now the world’s largest online shopping event and bigger than Black Friday.

Alibaba’s Singles' Day haul grew 32 percent year-over-year in 2016. This year brought in over 660 million orders, a 41 percent increase. AliCloud was able to handle the increased traffic, which saw peak transaction rates a remarkable 175,000 a second.

“We think Alibaba is a rare and valuable global Internet platform," said SunTrust's Bob Peck, "with a powerful ecosystem that creates 3 distinct value propositions for investors, including the value of: What Alibaba generates today; What Alibaba is becoming and; The optionality of what Alibaba can be long term."

SunTrust has a Buy rating on Alibaba with a $125 price target by year end 2017.

Latest Ratings for BABA

DateFirmActionFromTo
Nov 2019MaintainsBuy
Nov 2019MaintainsBuy
Nov 2019MaintainsOverweight

View More Analyst Ratings for BABA
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