Microsoft Corporation MSFT released better-than-expected earnings for its first quarter.
Microsoft reported revenue of $50.1 billion in the first quarter, up 11% year over year. The grand total topped an analyst estimate of $49.8 billion. The company reported earnings of $2.35, beating analyst estimates of $2.32. Revenue for the Microsoft cloud segment was $25.7 billion in the first quarter, up 24% year over year.
Microsoft shares fell 6.8% to $233.52 in premarket trading.
These analysts changed their price targets for Microsoft after the quarterly results were released.
- Piper Sandler Lower price target on the stock to $265 from $275. Piper Sandler analyst Brent Bracelin maintained an overweight stance on the stock.
- Jefferies Microsoft lowered price target to $270 from $275. Jefferies analyst Brent Thill maintained the stock with a buy.
- Barclays Microsoft lowered price target to $296 from $310. Barclays analyst Raimo Lenschow maintained an overweight stance on the stock.
- JP Morgan Lower price target for Microsoft from $305 to $275. JP Morgan analyst Mark Murphy kept the stock overweight.
- CreditSuisse lowered the price target for Microsoft from $400 to $365. Credit Suisse analyst Phil Winslow considered the stock to be outperforming.
- Deutsche Bank lower the price target for Microsoft from $315 to $275. Deutsche Bank analyst Brad Zelnick kept the stock a buy.
- Mizuho lowered the target price for Microsoft to $305 from $320. Mizuho analyst Gregg Moskowitz maintained a buy recommendation for the stock.
- MorganStanley Microsoft price target lowered from $325 to $307. Morgan Stanley analyst Keith Weiss rates the stock as Overweight.
- Raymond James Microsoft price target lowered from $300 to $280. Raymond James analyst Andrew Marok kept the stock with an Outperform rating.
- stalk Price target for Microsoft lowered from $300 to $290. Stifel analyst Brad Reback maintained the stock with a buy.
- Cowen & Co. Lower price target on…
