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JD.Com (NASDAQ:JD)

  • Giugno 28, 2023
  • Posted by: Oliver
  • Categoria: Economics, Finance & accounting
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JD.Com’s revenue grew 1.4% in the first quarter, fueled by robust growth in its services business. The company’s high-margin services business and its efforts to streamline operations and optimize its product portfolio helped generate adjusted net income per ADS (American Depositary Share) of RMB 4.76, up from RMB 2.53 in the prior-year quarter.While the Q1 revenue exceeded market expectations, it marked the slowest pace of growth for JD.Com amid difficult macro conditions and rising competition. To revive its sales, the company launched a massive RMB 10 billion discount campaign that aims to attract more customers through wider price ranges and product categories.

JD is optimistic about the road ahead, with a focus on growth in lower-tier markets, advancements in technology and services, international expansion, and higher efficiency in operations. The company recently announced that it aims to create seven listed firms with a market value of at least $14 billion apiece.

Is JD Stock a Buy or Sell?

Following the results in May, Susquehanna analyst Shyam Patil lowered the firm’s price target for JD.com to $40 from $45 and maintained a Hold rating. The analyst said the top-line growth was muted, though fine. He also highlighted management’s cost discipline.

JD scores a Strong Buy consensus rating based on 11 Buys and three Holds. At $59.50, the average price target implies nearly 63% upside. Shares have plunged about 35% so far in 2023.

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