Amazon Analysts Boost Their Forecasts After Upbeat Q2 Results
Portfolio Pulse from Lisa Levin
Amazon.com, Inc. (NASDAQ:AMZN) reported Q2 revenue of $134.4 billion, beating estimates of $131.54 billion, and earnings of 65 cents per share, surpassing estimates of 34 cents per share. The company expects Q3 revenue to be between $138 billion and $143 billion. Following the announcement, Amazon shares gained 9% in pre-market trading. Several analysts, including those from Telsey Advisory Group, JP Morgan, Rosenblatt, and JMP Securities, raised their price targets on Amazon.
August 04, 2023 | 3:12 pm
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Amazon's Q2 results surpassed estimates, leading to a 9% increase in pre-market trading and prompting several analysts to raise their price targets.
Amazon's better-than-expected Q2 results and strong Q3 guidance have led to a positive market reaction, with a 9% increase in pre-market trading. This positive sentiment is further reinforced by several analysts raising their price targets, indicating a bullish outlook for the stock.
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