Friday Morning Pre-Market Insights: Amazon.com, Inc. (AMZN), Pandora Media Inc (P), Skyworks Solutions Inc (SWKS), TrueCar Inc (TRUE)


Amazon.com, Inc. (NASDAQ:AMZN) shares soared more than 19% in pre-market trading to $93.79, after the online retail giant delivered exceptionally strong second-quarter results, exceeding Street expectations across all key metrics, with an impressive re-acceleration in the top line across North America and International and driving better-than-expected EPS. According to the 29 analysts polled by TipRanks in the last 3 months, 24 are bullish on AMZN and 5 are neutral. The average 12-month price target is $568.58, marking a 26% potential upside from yesterday’s closing price.

Pandora Media Inc (NYSE:P) shares spiked more than 10% in pre-market trading to $15.35, after the online radio reported a relatively strong second-quarter results. Revenue and EBITDA beat Street expectations on stronger Ad Revenue, while User growth and Listener Hours slightly missed expectations, partially due to positive algo/interface changes. Pandora raised its FY15 Revenue guide above Street expectations while maintaining the EBITDA guide. According to the 13 analysts polled by TipRanks in the last 3 months, 10 are bullish on Pandora stock and 3 are neutral. The average 12-month price target is $23.09, marking a 66.35% potential upside from yesterday’s closing price.

Skyworks Solutions Inc (NASDAQ:SWKS) shares increased more than 3% in pre-market trading to $106.55, after the company reported its 9th straight beat and raise last night, delivering solid June Q results and issuing guidance well above Street Consensus on strength across the board. Q3/F’15 sales of $810M and non-GAAP EPS of $1.34 were above Skyworks’ guidance. Q4/F’15 guidance for revenue of $875 million and non GAAP EPS of $1.51 were above consensus $859 million and $1.42 estimates. According to the 14 analysts polled by TipRanks in the last 3 months, 13 are bullish on SWKS and 1 is neutral. The average 12-month price target is $116.21, marking a 12.69% potential upside from yesterday’s closing price.

TrueCar Inc (NASDAQ:TRUE) shares fell more than 35% to in pre-market trading to $6.83, after the company reported a negative preannouncement of second-quarter results and material reduction in 2015 guidance. Adding insult to injury, RBC Capital analyst Mark Mahaney downgraded TrueCar stock from an Outperform to a Market Perform rating, while signicantally reduced the price target to $9 (from $23). According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Mark Mahaney has a total average return of 24.1% and a 65.5% success rate. Mahaney has a -26.7% average return when recommending TRUE, and is ranked #13 out of 3743 analysts.