After KeyBanc and Jefferies gave Amazon.com, Inc. (NASDAQ: AMZN) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Jason Helfstein maintained a Buy rating on Amazon.com, Inc. today and set a price target of $2100. The company’s shares closed yesterday at $1902.25.
Helfstein observed:
“Raising target to $2,100 (was $2,085) and maintaining our Outperform rating as 1Q earnings were highlighted by EBIT 42% above Street expectations, despite in line revenue. Int’l revenue slowed on India regulation. AWS continued solid top-line growth, but slower than expected on harder comps. This was offset by faster subscription services revenue from Prime. Advertising grew >36%, but mgmt suggested new buyer tools needed to accelerate growth. 2Q revenue guided +20% y/y, a modest sequential acceleration. AMZN is upgrading Prime to one-day free delivery (vs. two-days, currently) moving the goal posts (again) for the retail industry. This results in $800M of additional spending, beginning in 2Q, causing EBIT guide 26% below Street at midpoint (or 7% below ex. Prime investment). Valuation remains compelling on EBITDA.”
According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 19.5% and a 68.2% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, ANGI Homeservices Inc, and Spotify Technology SA.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Amazon.com, Inc. with a $2130.16 average price target, representing an 12.0% upside. In a report issued on April 12, RBC Capital also maintained a Buy rating on the stock with a $2300 price target.
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The company has a one-year high of $2050.50 and a one-year low of $1307. Currently, Amazon.com, Inc. has an average volume of 4.38M.
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