![]() – Prime Day will give Amazon a boost in the third quarter and possibly set the stage for another shopping event. Stock price: Amazon shares have dropped 32.8% over the past year, and are down 15.6% for the last three months. ![]() Revenue: The FactSet consensus is for revenue of $119.00 billion, up from $113.08 billion last year.Įstimize forecasts revenue of $120.00 billion.Īmazon reported revenue in line with the FactSet consensus last quarter. Here are a few things to know about Amazon in preparation for the earnings announcement:Įarnings: The FactSet consensus is for earnings per share of 12 cents per share, down from 76 cents last year.Įstimize, which crowdsources estimates from sell-side and buy-side analysts, hedge-fund managers, executives, academics and others, forecasts EPS of 18 cents.Īmazon missed the FactSet EPS consensus in the last quarter.Īlso: Amazon looks to cut costs after first loss in seven years sends stock careening lower MKM Partners rates Amazon stock buy with a $165 price target, down from $180.Īmazon has an average buy rating and average target price of $167.80, according to 51 analyst groups polled by FactSet. “Plus, softness in VC-funding to start-ups likely finds its way to AWS softness in 2H22 (we estimate tech startups make up 10% of AWS revenue).” “We view engagement trends in social media and streaming as revenue headwinds for AWS’ usage-based pricing model (Netflix, Snap, Spotify, Pinterest, and Meta, among the top 20 customers at AWS, in our opinion),” analysts wrote in a note published Monday. MKM Partners also anticipates cloud service price cuts, but analysts there say that a slowdown in AWS’ business will happen sooner rather than later. “Despite attractive valuation, we believe the stock lacks short-term catalysts due to a likely downward revision cycle,” analysts said. See: Big Tech earnings are about to determine the direction of the market “At the same time, our checks indicate that AWS is considering a discount of up to 10% in September/October for new contracts/renewals when IT budgets are set for FY23.”Īmazon completed a 20-for-1 stock split in June. “To mitigate any weakness in demand, leading cloud vendors like Oracle and NetSuite started to offer meaningful discounts to gain share in the low-end of the market,” Mizuho wrote in a recent note.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |