Baird analyst, Colin Sebastian, reiterated his Outperform rating on shares of Amazon.com (NASDAQ: AMZN) after accelerating North America segment revenues and profits benefited from AWS and Advertising outperformance, helping to offset widening international losses.

The analyst stated "Given the momentum in Prime penetration, Alexa/Echo growth, and cloud services, Amazon's competitive moat continues to widen. While heavy spending likely persists through at least 2019, Amazon is building a technology-centric platform with significant runway for further growth".

The new price target of $1,600 is from $1,310.

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 $1390.00 yesterday.