Baird Reiterates Buy on (AMZN) Following 3Q

October 28, 2016 8:37 AM EDT
Get Alerts AMZN Hot Sheet
Price: $808.33 -0.09%

Rating Summary:
    46 Buy, 5 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Baird reiterated an Outperform rating and $850.00 price target on (NASDAQ: AMZN) following the company's 3Q earnings report. AMZN reported revenues of $32.7B, above Baird's expectations and in-line with consensus. 4Q16 revenue guidance of $42B-$45.5B was in-line with consensus of $44.6B, while CSOI guidance appears to be in-line to below consensus. CSOI of $1.38B was below Street expectations of $1.49B.

Analyst Colin Sebastian commented, "AMZN reported Q3 revenues above consensus expectations with strength across the board, but with lower operating/net income, as margin expansion will likely remain lumpy (as we previewed) given the pace of investment across multiple growth areas in Retail, Technology and Media. Importantly, Street estimates should now reflect more reasonable expectations going forward. No changes to fundamental outlook."

For an analyst ratings summary and ratings history on click here. For more ratings news on click here.

Shares of closed at $818.36 yesterday.

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