DBS analyst Sachin Mittal has maintained a Buy rating on Amazon (AMZN) and set a price target of $175.00. The company’s shares closed at $137.85 on August 7.
Mittal, who covers the Technology sector, focuses on stocks such as Amazon, Microsoft, and Meta Platforms. According to TipRanks, Mittal has an average return of 19.8% and a 74.55% success rate on recommended stocks.
Amazon has an analyst consensus of Strong Buy, with a price target consensus of $172.43, indicating a potential upside of 25.09% from current levels. Roth MKM also maintained a Buy rating on the stock with a $165.00 price target in a report released on August 8.
Based on Amazon’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $75.35 billion and a net profit of $6.75 billion. In comparison, last year the company earned a revenue of $64.66 billion and had a GAAP net loss of $2.03 billion.
Amazon.com, Inc. is a leading provider of online retail shopping services and generates revenue from cloud computing services. The company operates through three business segments: North America, International, and Amazon Web Services (AWS). The North America and International segments include retail sales of consumer products and subscriptions like Amazon Prime membership fees. AWS generates revenue from global sales of compute, storage, database, and other service offerings. Founded by Jeffrey P. Bezos in July 1994, the company is headquartered in Seattle, WA.
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