JD.com (JD); 9618 HK

Re: JD.com (JD); 9618 HK

Postby winston » Tue Nov 17, 2020 11:51 am

vested

JD.com (JD US / 9618 HK) - Strong 3Q momentum

E-commerce is emerging stronger post-COVID-19 on deepened penetration across products and in the lower-tier cities.

Annual active customer account momentum in 3Q was strong, growing 5.8% QoQ to 441.6m.

Management noted that ~80% of new users were from lower-tier cities.

While no formal guidance was provided, management noted that their Singles Day festival performance was robust and exceeded their internal expectations.

On the topic of the fresh food market, we agree with management that this specific opportunity in China is significant, with different players competing in this arena.

In their view, there are a variety of models that can be employed in China, but a localized approach is needed – to that end, JD will be leveraging its core supply chain capabilities and will look to grow in a prudent manner rather than engaging in heavy subsidies.

We expect some near-term margin volatility, as we believe that management is likely to reinvest to expand JD Super categories as well as user acquisition.

BUY (JD US) / HOLD (9618 HK).

Source: OCBC
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Re: JD.com (JD); 9618 HK

Postby winston » Tue Nov 17, 2020 2:14 pm

vested

Brokers' Latest TPs, Views on JD-SW (09618.HK) Post Results (Table)

Brokers│Ratings│TPs (HK$)
Nomura│Buy│320->424
Credit Suisse│Outperform│380->415
BofA Securities│Buy│386.1->406
HSBC Global Research│Buy│390->382
Goldman Sachs│Buy (CL Buy List)│346

----------------------------

Brokers│Ratings│TPs (US$)
Citigroup│Buy│104->107
Credit Suisse│Outperform│98->106
BofA Securities│Buy│99->104
HSBC Global Research│Buy│100->98
UBS│Buy│96.5->100
JPMorgan│Overweight│100
Morgan Stanley│Overweight│92

----------------------------

Brokers' latest views on JD following QoQ result release:

Brokers│Views
Nomura│sell-offs under strong QoQ result unjustified
Credit Suisse│QoQ result beats; 4Q rev growth may speed up
BofA Securities│investment in long-term opportunity backed by growth impetus, econ scale
HSBC Global Research│re-investment to drive sustainable growth
Goldman Sachs│QoQ rev, earnings beat
Citigroup│lifts TP on retail scale effect, pledge of re-investment
UBS│investors too worried over new investment
JPMorgan│QoQ result strong
Morgan Stanley│long-term growth outlook benign

Source: AAStocks Financial News
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Re: JD.com (JD); 9618 HK

Postby winston » Wed Nov 18, 2020 9:23 am

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Promising outlook for user activity growth

JD reported 3Q20 net revenue of Rmb174bn, up 29.2% yoy, above our expectation. Driven by higher margins and a gain of fair-value change of investment securities, non-GAAP net profit for the quarter was Rmb5.6bn, up 80.1% yoy.

JD’s AAU was 441.6m at the end of Sep 2020, up by 32.1% yoy, the highest growth rate in the past three years.

The JD logistics loss narrowed substantially, and this trend is expected to continue.

Reiterate Add with a new DCF-based TP of US$99.8.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 9C33F072DA
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Re: JD.com (JD); 9618 HK

Postby winston » Sat Nov 21, 2020 12:27 pm

vested

JD.Com: Reasons To Go Long

by Michael Wiggins De Oliveira

Summary

JD.com is growing its top line at A breakneck pace of 29% y/y.

JD.com's active customer base continues to climb presently reaching 441 million.

This retailer is still priced for just 1.1x forward sales, one of the cheapest retail stocks.

Very strong free cash flow generation over its trailing twelve months.

Source: Seeking Alpha

https://seekingalpha.com/article/439053 ... nt=link-13
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Re: JD.com (JD); 9618 HK

Postby winston » Wed Nov 25, 2020 8:10 pm

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JD.com (JD)

JD.com is one of the riskier Chinese e-commerce companies. The online retailer has had a rocky year.

What do I mean? Well, JD stock has more than doubled since March, up 146% to $86.77. But it has been a rocky road with several pullbacks along the way.

The stock has been at its current level, or higher, on three separate occasions since August. Tense relations between Beijing and Washington, as well as scandals at other publicly traded Chinese companies have kept investors on edge.

Investors were also spooked when JD.com declined to provide any future guidance when announcing its latest earnings and top-line results missed analysts expectations.

As a result, JD stock has been trending downwards recently, down 7% since the start of November.

The company saw strong online sales at the height of the pandemic in China, but those sales are starting to revert to pre-pandemic levels now that China is reopening.

Investors looking for a long-term investment in a Chinese e-commerce giant may want to look at JD.com rival Alibaba (NYSE:BABA), which also has a huge online retailing presence. Importantly, Alibaba is also involved in everything from artificial intelligence to cloud computing.

It will be interesting to see if relations between the U.S. and China soften under the administration of President-elect Joe Biden. But investors should be ready to jump out of JD stock in a hurry if it continues trending in the wrong direction.

Source: Investor Place
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