Goldman Sachs maintained a Buy rating on Amazon.com (NASDAQ: AMZN) with a price target of $430.00.

Analyst Heath P. Terry said, "Amazon reported 1Q revenue of $19.7bn (+22.8% yoy vs. +20.3% in 4Q), above our estimate of $19.6bn and consensus at $19.4bn. Adjusted operating income margin was 2.5%, below our estimate and consensus at
2.8% on higher tech & content expenses. FX-neutral revenue growth accelerated to +23% from +22% in 4Q, driven by consolidated EGM acceleration of 450 bps and Other acceleration of 700 bps (likely driven by AWS). Paid unit growth decelerated to +23% vs. +25% growth in 4Q."

"We continue to believe Amazon has considerable opportunities for further growth reacceleration as AWS develops, Fresh grows its footprint, and the core retail business leverages the ongoing investment in infrastructure," he added.

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 $337.15 yesterday.