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Wall Street Overwhelmingly Bullish On Amazon's Quarter

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Wall Street Overwhelmingly Bullish On Amazon's Quarter

Amazon.com, Inc. (NASDAQ: AMZN) shares are up 7.0 percent in Friday trading after the company reported strong top-line and bottom-line beats in Q3.

Amazon reported GAAP EPS of $0.17 on revenue of $25.4 billion, ahead of consensus estimates of -$0.13 and $24.9 billion, respectively.

Where does Amazon’s stock go from here? Here’s what five Wall Street firms have to say about the stock now.

Jefferies

Analyst Brian Pitz believes Amazon “should be a core eCommerce holding as it has plenty of growth opportunities ahead.”

Jefferies has a Buy rating on Amazon and raised its price target from $730 to $775.

Related Link: Amazon Responds To "Harsh" New York Times Report

Cantor Fitzgerald

Analyst Youssef Squali believes the world “could be seeing the beginnings of the much sought-after margin expansion phase” for Amazon.

The firm maintains its Buy rating and raised its price target from $670 to $750.

Macquarie

Analyst Ben Schachter pointed out that AWS and Prime both exceeded expectations for the quarter, and he sees “little reason that those trends won’t continue.”

The firm maintains its Outperform rating and raised its price target from $660 to $740.

Deutsche Bank

Analyst Ross Sandler believes “shares can drift higher in the near-term, but admittedly are due a breather as margins level out a bit in 2016.”

The firm maintains its Buy rating and raised its price target from $665 to $725.

Barclays

Analyst Paul Vogel pointed out that Q4 guidance from the company was a bit below expectations, but added that “given the impressive results of the past few quarters we are not concerned and believe guidance is conservative.”

Barclays maintains an Overweight rating on Amazon and a $700 target for the stock.

Disclosure: The author holds no position in the stocks mentioned.

Image Credit: Public Domain

Latest Ratings for AMZN

DateFirmActionFromTo
Sep 2019MaintainsOverweight
Sep 2019MaintainsOutperform
Aug 2019AssumesBuy

View More Analyst Ratings for AMZN
View the Latest Analyst Ratings

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