© Reuters. Microsoft gets price targets cut by analysts after weak outlook
gasoline – Microsoft Corporation (NASDAQ: MSFT) reported better-than-expected earnings for its second quarter, while sales missed estimates. The company also released disappointing guidance.
Microsoft reported second-quarter revenue of $52.7 billion, missing a Street estimate of $52.97 billion. Earnings per share were $2.32 in the second quarter, beating Street’s estimate of $2.30.
The company said it expects third-quarter revenue in its smart cloud business of $21.7 billion to $22 billion.
Microsoft shares fell 0.3% to trade at $241.38 on Wednesday.
These analysts changed their price targets on Microsoft after the earnings release.
- Raymond James reduce price target on Microsoft from $280 to $270. Raymond James analyst Andrew Marok maintained an outperform rating on the stock.
- JP Morgan cut the stock price target from $275 to $265. JP Morgan analyst Mark Murphy kept the stock overweight.
- Wolfe Research reduce price target on Microsoft from $280 to $265. Wolfe Research analyst Alex Zukin held the stock up with an outperformance.
- Mizuho lowered the price target on Microsoft from $290 to $280. Mizuho analyst Gregg Moskowitz held the stock up with a buy.
- Jefferies cut the price target on Microsoft from $280 to $275. Jefferies analyst Brent Thill held the stock up with a buy.
- Stifel reduce price target on Microsoft from $290 to $275. Stifel analyst Brad Reback held the stock at a buy rating.
- Wedbush lowered the price target on Microsoft from $290 to $280. Wedbush analyst Daniel Ives maintained the stock with an outperform rating.
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