JD.com Analysts Cut Their Forecasts Following Q2 Results

JD.com, Inc. JD reported better-than-expected second-quarter earnings.

JD.com reported second-quarter FY23 revenue growth of 7.6% year-on-year to $39.7 billion, beating the consensus of $38.7 billion. Non-GAAP net income per ADS of $0.74 beat the consensus of $0.66.

JD.com shares fell 3% to close at $34.88 on Wednesday but added 2% in today’s pre-market trading session.

These analysts made changes to their price targets on JD.com following earnings announcement.

• B of A Securities lowered the price target on JD.com from $56 to $51. B of A Securities analyst Joyce Ju maintained a Buy rating.
• Mizuho cut the price target on JD.com from $70 to $60. Mizuho analyst James Lee maintained a Buy rating.

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