Alibaba Group Holding Ltd. (NYSE:BABA) announced it has appointed YU Yongfu as president of the Company’s online marketing unit, Alimama, to spearhead the business into new areas of growth.
YU joined Alibaba Group last June to lead the Company’s mobile business unit consisting of Autonavi and UCWeb. Prior to joining Alibaba Group, YU was chief executive of China’s largest mobile browser company, UCWeb. UCWeb was acquired by Alibaba Group in June 2014. YU will begin his new position today and will report to Daniel Zhang, Alibaba Group’s chief operating officer.
“As China’s e-commerce industry rapidly develops, Alimama has thrived and become an integral part of Alibaba Group’s ecosystem. This new mobile Internet era will usher in more opportunities for Alimama and Yongfu’s deep experience in both mobile sector and digital media area will help further Alimama’s growth," said Daniel Zhang.
YU’s appointment highlights the strategic importance of online marketing and mobile Internet initiatives within Alibaba’s ecosystem. With YU overseeing the mobile Internet business and Alimama, the Company will be able to consolidate resources and increase synergies across those units. Alimama is Alibaba Group's online marketing technology platform that offers sellers on Alibaba Group’s marketplaces online marketing services for both personal computers and mobile devices.
"Mobile Internet and big data are two trends that are shaping online marketing and advertising and Alimama is well poised to benefit from new opportunities on these fronts. Alimama’s goal is to expand its focus from e-commerce online marketing to become a leading media platform that efficiently matches advertisers and their target audience,” said YU Yongfu, president of Alimama.
Alimama’s major initiatives for the year include integrating data and technology products and services to better serve clients and partners, building a country-wide and industry-wide platform for data to increase clients’ data utilization and to support over 100,000 media partners.
Launched in November 2007, Alimama (www.alimama.com) is an online marketing technology platform that offers sellers on Alibaba Group’s marketplaces online marketing services for both personal computers and mobile devices. Through the Taobao Affiliate Network, Alimama also provides those sellers with such marketing services on third-party websites. Alimama is a business within Alibaba Group. (Original Source)
Shares of Alibaba closed yesterday at $83.24 . BABA has a 1-year high of $120 and a 1-year low of $80.03. The stock's 50-day moving average is $84.79 and it's 200-day moving average is $96.18.
On the ratings front, Alibaba has been the subject of a number of recent research reports. In a report released today, Daiwa analyst John Choi reiterated a Buy rating on BABA. Separately, on March 24, J.P. Morgan's Alex Yao reiterated a Buy rating on the stock and has a price target of $117.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, John Choi and Alex Yao have a total average return of 5.9% and 15.2% respectively. Choi has a success rate of 50.0% and is ranked #2526 out of 3562 analysts, while Yao has a success rate of 53.3% and is ranked #704.
In total, 2 research analysts have assigned a Hold rating and 18 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $83.24 which is 32.3% above where the stock closed yesterday.