Analysts are Cutting Price Targets of These 5 Tech Stocks After Earnings

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1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 259

Cowen lowered its price target for Microsoft Corporation (NASDAQ:MSFT) from $330 per share to $320 per share, citing the software giant’s mixed financial performance for its fiscal fourth quarter.

Microsoft Corporation (NASDAQ:MSFT) released its fiscal Q4 results on Tuesday, July 26, 2022. The company earned $2.23 per share on an adjusted basis, missing the expectations of $2.29 per share. Revenue for the quarter rose 12 percent versus last year to $51.87 billion, but analysts were looking for $52.44 billion.

The latest results were hurt by multiple macroeconomic factors. Microsoft Corporation (NASDAQ:MSFT) blamed unfavorable foreign exchange rate, production delays in China and scaled-down presence in Russia for the weak performance.

For its fiscal first quarter, Microsoft Corporation (NASDAQ:MSFT) expects to generate revenue in the range of $49.25 – $50.25 billion, below analysts’ average estimate of $51.49 billion.

You can also take a peek at The 9 China Rebound Stocks to Buy According to Jim Cramer and Jim Cramer Recommends These 10 Stocks For Recession.

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