China’s JD.com Sues Alibaba’s Tmall over Unfair Competition

Past year more than 57.1 billion yuan (HK$69.7 billion) worth of transactions were conducted through Alibaba’s platform during the promotion, more than the combined total of all United States merchants on Cyber Monday.

Alibaba Group Holding (NYSE:BABA)’s stock had its “buy” rating reissued by analysts at MKM Partners in a report released on Friday, Marketbeat reports.

Evercore ISI upped their price objective on shares of Alibaba Group Holding from $88.00 to $94.00 and gave the stock a buy rating in a report on Wednesday, October 28th. Alibaba alone has invested US$4.6 billion (HK$35.8 million) for a stake in a brick-and-mortar domestic retailer, in part to challenge JD’s strength in consumer electronics. The firm has a market capitalization of $202.61 billion and a P/E ratio of 21.59. Alibaba Group Holding has a 12-month low of $57.20 and a 12-month high of $120.00. During the same quarter in the previous year, the business earned $0.45 earnings per share. The firm’s revenue was up 32.0% compared to the same quarter previous year.

Shares of Alibaba Group Holding (NYSE:BABA) opened at 85.38 on Friday. Equities analysts anticipate that Alibaba Group Holding will post $16.89 EPS for the current fiscal year. “Alibaba Group Holding Limited is headquartered in Hangzhou, the People’s Republic of China”. In addition to its three China retail marketplaces, the Company operates Alibaba.com, Chinas global online wholesale marketplace, 1688.com, its China wholesale marketplace, and AliExpress, its global consumer marketplace, as well as provides cloud computing services.

Alibaba has launched two new types of shopping insurance to ensure the quality and authenticity of products sold on its online shopping platform as it gears up for the country’s Singles’ Day online shopping event on November 11, China News Service reported.