Amazon.com (AMZN) Guidance Miss Likely Just Modeling Error - Loop Capital

Loop Capital analyst, Anthony Chukumba, reiterated a Buy rating and $3,775.00 price target on Amazon.com (NASDAQ: AMZN) after the company reported a rare top-line miss to consensus in 2Q and provided worse-than-expected 3Q guidance.

The analyst does not see this as a long term trends, stating "we believe this was largely due to
difficulties forecasting the impacts of a return to normalized consumer shopping behavior
as well as anniversarying difficult “pandemic-inflated” results from last year. In addition, we
saw positive signs in the results (including second and fourth consecutive quarters of
sequential YoY revenue growth acceleration in AWS and advertising, respectively), and
expect online stores sales growth to reaccelerate as one-day delivery availability improves."

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 $3366.24 yesterday.

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