Raymond James lowered the firm’s price target on Amazon.com to $200 from $205 and keeps a Strong Buy rating on the shares. Amazon’s net sales were 25 basis points shy of consensus ex-FX and Q3 guidance was also light, but the bigger surprise was the perceived Q3 EBIT guidance with the top end slightly below the Street due to Prime Day and Q4 fulfillment ramp, the analyst tells investors in a research note.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMZN:
- AMZN Earnings: Amazon Slips after Mixed Q2 Results
- Warner (NASDAQ:WBD) Plunges after Sports Streaming Platform Gets Priced
- Options Volatility and Implied Earnings Moves Today, August 01, 2024
- Amazon accuses Nokia of infringing cloud computing patents, Reuters reports
- Pinterest price target lowered to $48 from $52 at RBC Capital