02:15 PM EST, 01/30/2025 (MT Newswires) -- Microsoft ( MSFT ) issued fiscal Q3 revenue guidance that fell short of estimates, and several analysts on Thursday cut there price targets for the company.

The company said late Wednesday it expects Q3 revenue, that includes productivity and business processes, intelligent cloud and personal computing, between $67.70 billion and $68.70 billion, while analysts surveyed by FactSet expect $68.83 billion.

Mizuho lowered its price target for Microsoft ( MSFT ) to $500 from $510, but kept its outperform rating. Morgan Stanley also lowered its price target for the company to $530 from $540, while keeping overweight rating. Wolfe Research also cut price target to $475 from $515.

The company's shares were down over 6% in recent trading.

Microsoft ( MSFT ) reported fiscal Q2 earnings of $3.23 per diluted share, up from $2.93 a year earlier. Fiscal Q2 revenue for the quarter was $69.63 billion, up from $62.02 billion last year.

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