Amazon.com, Inc.
Amazon said second-quarter revenue increased 11% year-over-year to $134.4 billion, which beat the consensus estimate of $131.54 billion,. The multifaceted company reported quarterly earnings of 65 cents per share, which beat analyst estimates of 34 cents per share.
Amazon expects third-quarter revenue to be between $138 billion and $143 billion versus estimates of $138.25 billion.
Amazon shares gained 9% to $140.53 in pre-market trading.
These analysts made changes to their price targets on Amazon following earnings announcement.
- Telsey Advisory Group raised the price target on Amazon from $145 to $160. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating.
- JP Morgan increased the price target on Amazon from $145 to $180. JP Morgan analyst Doug Anmuth maintained an Overweight rating.
- Rosenblatt boosted Amazon price target from $111 to $184. Rosenblatt analyst Barton Crockett upgraded the stock from Neutral to Buy.
- JMP Securities increased Amazon price target from $140 to $175. JMP Securities analyst Nicholas Jones maintained an Outperform rating.
- Morgan Stanley raised the price target from $150 to $175. Morgan Stanley analyst Brian Nowak maintained Amazon.com with an Overweight.
- Needham raised the price target from $150 to $160. Needham analyst Laura Martin maintained Amazon.com with a Buy.
