RBC Capital analyst Brad Erickson has maintained a Buy rating on Amazon (AMZN) and set a price target of $180.00. The company’s shares opened today at $130.12.
According to TipRanks, Erickson is a 5-star analyst with an average return of 18.2% and a 51.87% success rate. Erickson covers the Technology sector, focusing on stocks such as Amazon, Meta Platforms, and Wix.
The word on The Street in general suggests a Strong Buy analyst consensus rating for Amazon with a $176.18 average price target, which is a 35.40% upside from current levels. In a report released today, D.A. Davidson also reiterated a Buy rating on the stock with a $150.00 price target.
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.
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Amazon (AMZN) Company Description:
Amazon.com, Inc. provides online retail shopping services and also generates revenue from cloud computing services. It 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 the 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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