BABA-W (09988.HK)  -5.500 (-4.267%)    Short selling $1.36B; Ratio 7.556%   (BABA.US)      saw an accelerated YoY growth in customer management (CMR) revenue to 12% for the fiscal quarter ended March, surpassing the previous increase of 9% and expectations, according to a report from HSBC Global Research.

The broker raised its FY26 CMR growth forecast from 7% to 8%, believing that there would be further upside potential. It also expressed confidence in the continued accelerated growth of cloud business revenue, expecting it to reach the projected 20% YoY growth level for FY26. In addition, the FY26-28 revenue forecasts for the company were lifted by 1-2% as well.

Related NewsCICC Lists Capital Flow Forecasts for Stocks w/ Major Weighting Changes After MSCI Quarterly Review (Table)
HSBC Global Research kept a Buy rating on BABA-W, with a target price remaining at USD176 for US shares and at HKD172 for H-shares. It was also optimistic about the company's CMR and cloud service revenue outlook, saying that stable shareholder returns can also support its valuation.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-16 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)