JD - JD.Com's Strong Q2 Execution Overshadowed By Macro Uncertainties: This Analyst Lowers Price Target | Benzinga
Susquehanna analyst Shyam Patil reiterated a Neutral rating on JD.Com, Inc. (NASDAQ: JD), lowering the price target to $38 from $40.
Earlier this month, the company 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.
The analyst thinks that EPADS was less mixed, coming in 13% above his estimate and 9% above consensus, as cost controls continue to prove effective.
JD leaned into marketing in the quarter, partially in support of the 6.18 shopping festival.
Patil is overall encouraged by ...