Amazon.com Inc. (NASDAQ: AMZN | AMZN Price Prediction) is scheduled to release its first-quarter financial results after the markets close on Thursday. Consensus estimates were calling for $4.72 in earnings per share (EPS) and $59.65 billion in revenue. The same period of last year reportedly had $3.27 in EPS and $51.04 billion in revenue.
This e-commerce empire recently expanded a partnership with Kohl’s wherein the retailer will accept returns for items purchased on Amazon at all of its stores beginning in July.
Originally, Kohl’s and Amazon first worked together in 2017 to pilot the returns program, which is currently operating in 100 stores in the Los Angeles, Chicago and Milwaukee markets. Now the duo will roll out this program to all of Kohl’s more than 1,150 locations across 48 states.
Also during this quarter, Amazon Prime added 2 million new subscribers, offered free restaurant delivery for a month, and introduced a new line of skincare products.
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Not to mention that this is one of the mega-cap FANG tech leaders offering incredible value.
Excluding Thursday’s move, Amazon has outperformed the broad markets, with its stock up over 26% year to date. In the past 52 weeks, the stock is up closer to 25%.
A few analysts weighed in on Amazon ahead of the report:
- Stifel has a Buy rating with a $2,300 price target.
- Wedbush has an Outperform rating with a $2,000 target price.
- CIBC has an Outperform rating with a $2,085 target price.
- Oppenheimer has an Outperform rating and a $2,085 price target.
- Evercore ISI has an Outperform rating with a $1,965.
Shares of Amazon were last seen up fractionally at $1,914.38 on Thursday, with a 52-week range of $1,307.00 to $2,050.50. The consensus price target is $2,080.44.
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