Amazon.com Inc. (NASDAQ: AMZN) is scheduled to release its second-quarter financial results after the markets close on Thursday. The consensus estimates from Thomson Reuters call for $2.50 in earnings per share (EPS) and $53.27 billion in revenue. The same period from last year reportedly had EPS of $0.40 and $37.95 billion in revenue.
This company continues to add new ways for its Amazon Prime subscribers to shop at the company’s Whole Foods Market stores. Last week’s Prime Day promotion included Whole Foods stores for the first time, and Amazon said that Prime members “saved millions of dollars” with Prime Day deals, including best-selling organic strawberries.
Earlier this week the e-commerce giant launched Prime Now delivery service for Whole Foods stores in Fort Lauderdale, Miami, Palm Beach and parts of Long Island, Manhattan and Brooklyn. Christina Minardi, the store’s executive vice-president of operations, said:
We’ve been delighted with the customer response to delivery in as little as an hour through Prime Now, and we’re excited to bring the service to our customers in Fort Lauderdale, Miami, Palm Beach, Long Island and New York City. Today’s announcement is another way that we are continuing to expand access to our high-quality products and locally-sourced favorites.
Excluding Thursday’s move, Amazon has vastly outperformed the broad markets with its stock up about 59% year to date. Over the past 52 weeks, the stock is up closer to 79%.
A few analysts weighed in on Amazon ahead of the report:
- Wedbush has a Buy rating and a $1,800 price target.
- Deutsche Bank has a Buy rating with a $2,200 price target.
- Telsey Advisory has an Outperform rating and a $2,100 target.
- Piper Jaffray has an Overweight rating and a $2,075 target.
- JPMorgan has a Buy rating.
- Morgan Stanley also has a Buy rating.
- Credit Suisse has a Buy rating with a $2,000 price target.
Shares of Amazon were last seen down about 2% at $1,824.02, with a consensus analyst price target of $1,884.74 and a 52-week range of $931.75 to $1,863.84.
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