Amazon More Than Doubles Earnings: What Analysts Are Saying

By Chris Lange Published Apr 30, 10:16AM EDT

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Amazon More Than Doubles Earnings: What Analysts Are Saying — © Muhla1 / Getty Images

Amazon.com Inc. (NASDAQ: AMZN | AMZN Price Prediction) released first-quarter financial results after markets closed Thursday. The e-commerce empire said that it had $15.79 in earnings per share (EPS) and $108.5 billion in revenue, compared with consensus estimates of $9.54 in EPS and revenue of $104.46 billion. In the same period of last year, Amazon reported EPS of $5.01 and $75.5 billion in revenue.

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Amazon Web Services (AWS) revenues increased 32.1% to $13.5 billion, up from $10.2 billion in the same period of last year, with operating income of $4.16 billion.

In its other segments, Amazon reported:

North American net sales increased 39.5% to $64.37 billion, with an operating income of $3.45 billion.
International sales increased 60.4% to $30.65 billion, with operating income of $1.25 billion.

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As for guidance, the company expects to see net sales in the range of $110 billion to $116 billion, with operating income of $4.5 billion to $8.0 billion, in the second quarter. The consensus estimates call for $12.12 in EPS on $116.16 billion in revenue for the quarter.

On the books, Amazon’s cash and cash equivalents totaled $34.16 billion at the end of the quarter, up from $27.51 billion at the end of the same period last year.

Here’s what analysts are saying after the fact:

Canaccord Genuity reiterated a Buy rating and raised its price target to $4,400 from $4,100.
Evercore ISI reiterated it as Outperform and raised its price target to $4,500 from $4,000.
Credit Suisse reiterated a Buy rating.
Raymond James reiterated its Outperform rating and raised its target to $4,125 from $4,000.
Jefferies reiterated a Buy rating and raised its price target to $4,200 from $4,000.
Stifel reiterated it as a Buy and raised its target price from $4,000 to $4,400.
JPMorgan reiterated it as Overweight and raised its price target to $4,600 from $4,400.
Wells Fargo reiterated it as Overweight and raised its price target to $4,500 from $4,100.
BMO Capital Markets reiterated it as Outperform and raised its target to $4,300 from $4,200.
Susquehanna reiterated a Positive rating and raised its price target to $5,500 from $5,200.
Morgan Stanley reiterated it at Overweight and raised its price target to $4,500 from $4,200.
Barclays reiterated its Overweight rating and raised its price target to $4,300 from $3,860.
UBS reiterated a Buy rating and raised its target price from $4,150 to $4,350.
Mizuho reiterated it as a Buy and raised its price target to $4,400 from $4,000.

Shares of Amazon traded up less than 2% Friday morning to $3,533.23, in a 52-week range of $2,256.38 to $3,552.25. The consensus price target is $3,997.83.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.