In this video, I will evaluate Amazon's (NASDAQ: AMZN) annual shareholder letter and provide key insights to investors. Amazon's earnings have been pressured since the economic reopening gained momentum, and the CEO Andy Jassy gave his strategy for how he plans to turn things aro
Amazon has launched its Anti-Counterfeiting Exchange (ACX), an initiative to help retail stores label and track marketplace counterfeits as part of the e-commerce giant's efforts to crack down on organized crime on its platform, the company announced on Thursday.
Microsoft’s MSFT third-quarter fiscal 2023 results, scheduled to be reported on Apr 25, are likely to be driven by the continued yet slow growth in its cloud platform, Azure.For the fiscal third quarter, Microsoft expects Intelligent Cloud revenues (Azure falls under the
Below is Validea's guru fundamental report for AMAZON.COM, INC. (AMZN). Of the 22 guru strategies we follow, AMZN rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhi
Nasdaq futures fell nearly 1% on Thursday as Tesla shares tumbled after the electric-vehicle maker posted its lowest quarterly gross margin in two years, while prospects of U.S. interest rates staying higher for a longer kept investors jittery.
Last year was brutal for real estate investment trusts (REITs). The sector delivered a total return approaching negative 25%. The industry faced several headwinds, including a significant surge in interest rates and waning demand for rental space across several property classes.
Nasdaq futures slid 1% on Thursday as Tesla shares tumbled after the electric-vehicle maker posted its lowest quarterly gross margin in two years, while investors grew nervous about the outlook for U.S. interest rates.
Amazon (NASDAQ: AMZN) has been an incredible stock to own over the past three decades. It soared at the beginning of the pandemic when demand was through the roof, but it's since come down as the company struggles with an enlarged infrastructure it no longer needs due to slowing
Amazon (NASDAQ: AMZN), Palantir (NYSE: PLTR), Nvidia (NASDAQ: NVDA), AMD (NASDAQ: AMD), Intel (NASDAQ: INTC), and Airbnb (NASDAQ: ABNB) will highlight major trends impacting businesses in the first quarter of 2023. This video will discuss the key things to look for from each of t
On April 19, 2023 at 12:53:36 ET an unusually large $33,633.00K block of Put contracts in Amazon.com (AMZN) was bought, with a strike price of $150.00 / share, expiring in 58 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade w
On April 19, 2023 at 14:28:12 ET an unusually large $15,549.00K block of Put contracts in Amazon.com (AMZN) was bought, with a strike price of $190.00 / share, expiring in 58 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade w
On April 19, 2023 at 15:28:18 ET an unusually large
$38,272.50K block of Put contracts in Amazon.com
(AMZN) was sold,
with a strike price of $190.00 / share, expiring in 58 day(s) (on June 16, 2023).
Fintel tracks all large options trades, and the premium spe
Consumer stocks were mixed on late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) dropping 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 0.2%.
Earnings season can be a difficult period for investors. Four times a year (January, April, July & October), most publicly traded companies report their quarterly financial results. These reports often have a significant impact on the stock from a short- and long-term
Amazon.com Inc must face a proposed U.S. nationwide class action accusing the company of illegally monitoring private Facebook groups that delivery drivers used to discuss working conditions, a U.S. appeals court said on Wednesday.
The latest tally of analyst opinions from the major brokerage houses shows that among the components of the S&P 500 index, Amazon.com is now the #15 analyst pick, moving up by 1 spot.
Amazon (NASDAQ: AMZN) and Nvidia (NASDAQ: NVDA) have collaborated for over a decade. The semiconductor company is the primary supplier of graphics processing units (GPUs) for the cloud platform Amazon Web Services (AWS), with Nvidia's chips also powering robots used in Amazon war
Netflix NFLX reported first-quarter 2023 earnings of $2.88 per share, beating the Zacks Consensus Estimate by 1.77%. However, the figure slumped 18.4% year over year.Revenues of $8.16 billion increased 3.7% year over year but lagged the consensus mark by 0.25%. On a forei
Fintel reports that on April 19, 2023,
JMP Securities
reiterated
coverage of Amazon.com (NASDAQ:AMZN) with
a Market Outperform recommendation.
Analyst Price Forecast Suggests 33.18% Upside
After underperforming the broader markets significantly in 2022, shares of tech giant Amazon (
NASDAQ:AMZN
) have recovered some of the lost ground. AMZN stock gained about 22% year-to-date, outperforming the S&P 500 Index (
SPX
). While AMZN stock has appreciated, its
technical indicators suggest a Buy, implying further upside from current levels.
Per TipRanks’ technical analysis tool, AMZN’s 50-Day EMA (exponential moving average) is 98.63, while its price is $102.3, implying a Buy. Further, its shorter duration EMA (20 days) also signals a bullish trend.
While Amazon's stock has gained in value, its RSI (Relative Strength Index) of 57.36 still doesn’t signal an overbought condition. Based on Pivot Points, AMZN has the next resistance level at $108. It could also face resistance near $114, which happens to be the swing high. (See the graph below.)
What’s the Prediction for AMZN Stock?
Overall, AMZN is a Buy based on our easy-to-understand summary signals (which combine the moving averages and the technical indicators to provide a summarized signal).
Economic uncertainty, cost headwinds, higher interest rates, and a slowdown in its cloud business could continue to hurt its
financial performance in the short term. However, its market leadership in e-commerce and cloud computing will likely support its stock price. Further, the ongoing strength of its advertising unit is positive.
On Sunday, Mizuho Securities analyst
James Lee stated that he is bullish about AMZN stock and sees macro issues as short-term, not structural. Lee said, “Amazon remains a Buy in our universe, as we see potential EBITDA upside in 2024 from products such as advertising, expanding Prime products, and AWS up-sells.”
Including Lee, 35 analysts have recommended buying
AMZN stock. Meanwhile, one analyst has a Hold recommendation. Overall, AMZN has a Strong Buy consensus rating. Further, analysts’ average 12-month price target of $135.88 implies 32.83% upside potential.
Bottom Line
With bullish technical signals, a Strong Buy consensus rating, and an Outperform
Smart Score of nine, AMZN stock is more likely to beat the broader market averages. Meanwhile, the company's dominant positioning in the e-commerce space and the expected recovery in the cloud business are positives.
Disclosure