- The shares of Amazon.com, Inc. (NASDAQ: AMZN) have received a price target decrease from $4,400 to $4,200 by Oppenheimer. These are the details.
The shares of Amazon.com, Inc. (NASDAQ: AMZN) have received a price target decrease from $4,400 to $4,200 by Oppenheimer. And Oppenheimer analyst Jason Helfstein is maintaining an “Outperform” on the company shares.
Helfstein had cited slower growth in the second half. And Helfstein sees prospects for secular gains ahead.
Amazon had reported that its net sales increased 27% to $113.1 billion in the second quarter, compared with $88.9 billion in the second quarter of 2020. And net income increased to $7.8 billion in the second quarter, or $15.12 per diluted share, compared with $5.2 billion, or $10.30 per diluted share, in the second-quarter of 2020. The EPS and revenue figures were slightly below analyst expectations.
Amazon CFO Brian Olsavsky said that the year-over-year comparisons are tough to compare due to the COVID-19 lockdowns. “We’re starting to lap that and that’s why you see some of the growth rate coming down,” said Olsavsky via CNBC.
For the third quarter, Amazon is expecting sales somewhere between $106 billion and $112 billion, representing growth of 10% to 16% compared to the same time last year. Analysts were expecting closer to $120 billion.
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