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Microsoft Corporation MSFT posted better-than-expected earnings for its first quarter.
Microsoft reported first-quarter revenue of $50.1 billion, up 11% year-over-year. The total beat an estimate of $49.8 billion from analysts.The company reported earnings of $2.35, which beat estimates of $2.32 from analysts. Revenue for the Microsoft Cloud segment was $25.7 billion in the first quarter, up 24%% year-over-year.
Microsoft shares dropped 6.8% to $233.52 in pre-market trading.
These analysts made changes to their price targets on Microsoft following the release of quarterly results.
- Piper Sandler cut price target on the stock from $275 to $265. Piper Sandler analyst Brent Bracelin maintained an Overweight rating on the stock.
- Jefferies lowered Microsoft price target from $275 to $270. Jefferies analyst Brent Thill maintained the stock with a Buy.
- Barclays reduced the price target on Microsoft from $310 to $296. Barclays analyst Raimo Lenschow maintained an Overweight rating on the stock.
- JP Morgan cut price target on Microsoft from $305 to $275. JP Morgan analyst Mark Murphy maintained the stock with an Overweight.
- Credit Suisse lowered the price target on Microsoft from $400 to $365. Credit Suisse analyst Phil Winslow maintained the stock with an Outperform.
- Deutsche Bank cut the price target on Microsoft from $315 to $275. Deutsche Bank analyst Brad Zelnick maintained the stock with a Buy.
- Mizuho lowered the price target on Microsoft from $320 to $305. Mizuho analyst Gregg Moskowitz maintained a Buy rating on the stock.
- Morgan Stanley reduced Microsoft price target from $325 to $307. Morgan Stanley analyst Keith Weiss an Overweight rating on the stock.
- Raymond James cut Microsoft price target from $300 to $280. Raymond James analyst Andrew Marok maintained the stock with an Outperform rating.
- Stifel lowered price target on Microsoft from $300 to $290. Stifel analyst Brad Reback maintained the stock with a Buy.
- Cowen & Co. cut price target on Microsoft from $310 to $285. Cowen & Co. analyst J. Derrick Wood maintained an Outperform rating on the stock.
- Wells Fargo cut price target on Microsoft from $315 to $300. Wells Fargo analyst Michael Turrin maintained the stock with an Overweight.
- RBC Capital cut Microsoft price target from $380 to $310. RBC Capital analyst Rishi Jaluria maintained the stock with an Outperform.
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Image and article originally from www.benzinga.com. Read the original article here.