2023-01-25 18:48:07
Microsoft Gets Price Targets Cut By Analysts After Weak Outlook
Benzinga
By Lisa LevinMicrosoft Corporation MSFT reported better-than-expected earnings for its second quarter, while sales missed estimates. The company also issued 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 a Street estimate of $2.30.
The company said it sees Q3 revenue in its intelligent cloud business of $21.7 billion to $22 billion.
Microsoft shares dropped 0.3% to trade at $241.38 on Wednesday.
These analysts made changes to their price targets on Microsoft following the release of results.
- Raymond James cut the price target on Microsoft from $280 to $270. Raymond James analyst Andrew Marok maintained an Outperform rating on the stock.
- JP Morgan slashed the price target on the stock from $275 to $265. JP Morgan analyst Mark Murphy maintained the stock with an Overweight.
- Wolfe Research cut the price target on Microsoft from $280 to $265. Wolfe Research analyst Alex Zukin maintained the stock with an Outperform.
- Mizuho lowered the price target on Microsoft from $290 to $280. Mizuho analyst Gregg Moskowitz maintained the stock with a Buy.
- Jefferies slashed the price target on Microsoft from $280 to $275. Jefferies analyst Brent Thill maintained the stock with a Buy.
- Stifel cut the price target on Microsoft from $290 to $275. Stifel analyst Brad Reback maintained the stock with 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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