Amazon (AMZN) Price Target Lifted to $510 at Goldman Sachs; Accelerating Revenue Growth
Get Alerts AMZN Hot Sheet
Rating Summary:
65 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 10 | New: 42
Join SI Premium – FREE
Goldman Sachs analyst Heath Terry reiterated a Conviction List Buy rating and boosted his price target on Amazon.com (NASDAQ: AMZN) to $510.00 (from $450.00) following Q1 results.
Terry commented, "Amazon reported 1Q revenue of $22.7bn (+15.1% yoy vs. +14.6% in 4Q), above consensus of $22.4bn. FX-neutral revenue growth accelerated to +22% from +18% in 4Q, driven by all segments. GAAP operating income was $255mn (1.1% margins), above consensus of $7mn and guidance of ($450)-50mn, making this the second quarter in a row of significant profit outperformance. Amazon reported 1Q AWS revenue of $1.6bn with 16.9% operating margins, far above our profitability expectations. 2Q revenue guidance of $20.6-$22.8bn brackets consensus of $22.1bn. We continue to believe Amazon’s investment in infrastructure, logistics, and web services is resulting in market share gains, cash flow growth, and continued high returns on invested capital."
The firm lowered FY 2015 EPS from ($0.20) to ($0.54), raised FY 2016 EPS from $2.49 to $2.61 and FY 2017 EPS from $5.70 to $5.78.
For an analyst ratings summary and ratings history on Amazon.com click here. For more ratings news on Amazon.com click here.
Shares of Amazon.com closed at $389.99 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HSBC Downgrades DFI Retail Group Holdings (DFI:SP) (DFILF) to Hold, 'expect H&B to progress more slowly'
- HSBC Raises Price Target on Spirax-Sarco Engineering (SPX:LN) (SPXSY) to GBP 8,600
- Stephens Upgrades Truist Financial (TFC) to Overweight, 'Embedded Opportunities to Increase ROTCE'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Goldman Sachs Conviction Buy List, Goldman SachsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!