Shares of FedEx (NYSE:FDX) gained over 3% in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2023. Earnings per share came in at $3.18, which beat analysts’ consensus estimate of $2.81 per share.
Sales decreased by 4% year-over-year, with revenue hitting $22.8 billion. This missed analysts’ expectations of $23.74 billion.
Overall, Wall Street has a consensus price target of $199.90 on FedEx, implying 21.63% upside potential, as indicated by the graphic above.