U.S.-listed shares of Chinese e-commerce firm JD.com fell about 7 percent Monday after the company reported weaker-than-expected quarterly revenues and grew at its slowest pace ever, weighed by a slowdown in China's economy
JD.com posted first-quarter revenues of about $8.27 billion, up 47 percent year over year. Analysts polled by Reuters expected the company to post revenues of about $8.33 billion.
The company also said it expects second-quarter sales to range between $9.85 billion and $10.16 billion, representing a growth rate between 40 percent and 44 percent.
The amount of goods transacted on JD.com's platforms—or gross merchandise volume—rose 55 percent year over year, down from 69 percent in the previous quarter.
The Beijing-based company's executives have repeatedly flagged China's slowing economic growth as a potential concern, especially if consumption in the world's second-largest economy takes a hit.
China's economic growth slowed to 6.7 percent in the first quarter—the weakest since the global financial crisis.
That said, analysts at Piper Jaffray said the company's long-term story is still "intact."
"The company is successfully executing on [online-to-offline] and fulfillment initiatives, while its financing business continues to be self-funded," they said in a Monday note.
Piper has a "neutral" rating on the stock and a price target of $32. The company's shares traded near $23 on Monday.
Over the past year, the company's stock has fallen more than 30 percent.
JD in past 12 months
— Reuters contributed to this report.
Disclosure: Piper Jaffray makes a market in JD.com shares.