Chinese e-commerce giant JD.com (NASDAQ: JD) dropped in trading on Friday as several analysts reduced price targets and revenue forecasts due to sluggish e-commerce growth. Citi analyst
Alicia Yap lowered Q3 and Q4 revenue assumptions by 3.4% and 4.3%, respectively, citing “cautious consumer sentiment” and competitive pricing challenges. The analyst maintained a Buy rating with a price target of $43 on the stock, implying an upside potential of 60.3% at current levels.
Top-rated Benchmark analyst Fawne Jiang slashed the price target to $67 and reduced the company’s revenue estimates for the second half of FY23 due to business disruptions. The analyst has a Buy rating on the stock. Meanwhile, analysts Ellie Jiang and Eddy Wang from Macquarie and Morgan Stanley, respectively, both downgraded the stock to a Hold due to low confidence in the company’s strong recovery citing regulatory pressures and strong competition.
Is JD.com a Buy, Sell, or Hold?
Analysts are cautiously optimistic about JD.com, with a Moderate Buy consensus rating based on 11 Buys and five Holds. The average JD price target is $50.25, implying an upside potential of 87.3% from current levels.
