Alibaba Group Holding Ltd (NYSE:BABA) will hold its inaugural Global Conference on Women and Entrepreneurship on May 20-21 in Hangzhou, China at the Dragon Hotel. The goal of the conference is to spark dialogue and action on what can be done to encourage more women to pursue their professional and personal ambitions.
The more than 500 attendees will include leaders and executives from the fields of politics, business, finance, technology, fashion and media – women who are not only accomplished in their own right, but who are driving the conversation at their respective organizations as the influencers of current and future generations of women across China.
Several Alibaba executives will give keynote speeches, including Jack Ma, Executive Chairman; Lucy Peng, Chief People Officer and Chief Executive Office of Ant Financial Services Group; and Maggie Wu, Chief Financial Officer.
The topic of women and entrepreneurship is vital to Alibaba’s core business. With its mission to make it easy to do business anywhere, Alibaba Group has enabled millions of women to become entrepreneurs in the fast-growing field of e-commerce, and today, more than 50% of all merchants on Taobao Marketplace are female.
Women are also well-represented throughout Alibaba’s employee base and leadership team. One-third of Alibaba Group’s 18 original founders are women, many of whom have since risen through the ranks to lead Alibaba’s business divisions; and 9 of the 30 members of the Alibaba Partnership are women. Currently, more than 40% of the employee base is female and approximately 35% of executives are women.
“The world is a better place because of women’s important creations and contributions. We know that women will lead us to a better and brighter future, and we are honored to host so many inspirational women as we work to empower the next generation of female leaders and entrepreneurs in China,” said Jack Ma. “Women have been an integral part of Alibaba Group since its inception, and without them, we would not be where we are today.”
This conference is part of Alibaba’s ambition to bring the best of the world to China and the best of China to the world. Over 30 distinguished speakers will address the conference, many of whom are traveling to China from around the world to bring global perspectives on the topic of female empowerment to a predominantly Chinese audience. Several of the international speakers include Arianna Huffington, Chair, President and Editor-in-Chief of The Huffington Post Media Group; Phumzile Mlambo-Ngcuka, Executive Director of UN Women; Jacqueline Reses, Chief Development Officer at Yahoo!; and Jessica Alba, Founder and Chief Creative Officer of The Honest Company. The event will also showcase the best of China to those following the conference from around the world. (Original Source)
Shares of Alibaba Group opened today at $87.61 and are currently trading down at $86.975. BABA has a 1-year high of $120 and a 1-year low of $80.03. The stock’s 50-day moving average is $83.86 and its 200-day moving average is $94.62.
On the ratings front, Alibaba Group has been the subject of a number of recent research reports. In a report issued on May 8, Merrill Lynch analyst Eddie Leung maintained a Buy rating on BABA, with a price target of $107, which implies an upside of 22.1% from current levels. Separately, on the same day, Axiom’s Victor Anthony reiterated a Buy rating on the stock and has a price target of $110.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Eddie Leung and Victor Anthony have a total average return of 35.9% and 17.3% respectively. Leung has a success rate of 81.0% and is ranked #227 out of 3604 analysts, while Anthony has a success rate of 69.8% and is ranked #69.
Overall, 19 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 $87.61 which is 19.8% above where the stock opened today.