After Monness and J.P. Morgan gave Amazon (NASDAQ: AMZN) a Buy rating last month, the company received another Buy, this time from JMP Securities. Analyst Nicholas Jones CFA maintained a Buy rating on Amazon today and set a price target of $180.00. The company’s shares closed last Friday at $140.41.
According to TipRanks.com, CFA is a 5-star analyst with an average return of 16.8% and a 53.4% success rate. CFA covers the Technology sector, focusing on stocks such as Opendoor Technologies, Zillow Group Class A, and Offerpad Solutions.
Amazon has an analyst consensus of Strong Buy, with a price target consensus of $176.04, implying a 25.7% upside from current levels. In a report issued on July 26, Itau Unibanco also initiated coverage with a Buy rating on the stock with a $146.00 price target.
Based on Amazon’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $121 billion and GAAP net loss of $2.03 billion. In comparison, last year the company earned revenue of $113 billion and had a net profit of $7.78 billion.
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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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