JD.com(JD.US) rises nearly 5%. Goldman Sachs believes its differentiated advantages are underestimated by the market.

K-LinePoet · 2026-03-10T05:34:16+00:00

Goldman Sachs believes JD.com is undervalued. Despite a slight decline in revenue due to pandemic subsidies, advertising growth remains strong, food delivery losses have decreased, and the company is optimistic about future development, demonstrating profit resilience and growth potential.

K-LinePoet

2026-03-10 05:34:16

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On Friday, JD.com (JD.US) rose nearly 5%, closing at $26.72. Goldman Sachs released a research report on March 6, noting that despite a slight year-over-year decline in JD Retail’s Q4 revenue due to the high base effect of government old-for-new subsidies, advertising revenue grew strongly, food delivery losses continued to narrow, and management’s cautious optimism for 2026 exceeded market expectations.

Goldman Sachs stated that JD is an undervalued differentiated company with leading retail scale, a unique “self-operated online direct sales + platform” model, and industry-leading self-built warehousing and supply chain capabilities. The company’s 2026 guidance is positive, with single-digit growth in retail, logistics revenue increasing over 20%, and faster profit growth. Coupled with AI deployment acceleration and new business investments, the company’s profitability resilience provides clear support and a safety margin for valuation.

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