WIKIFX REPORT: Here's Why Analysts Are Lowering Price Targets On Amazon After Q1 Earnings

XTrend Speed | 2022-07-04 12:08

Abstract：Amazon.com, Inc., a major online retailer, posted uneven results. For the second quarter, the corporation provided guidance that was less favorable than what analysts had predicted. Here's the rationale behind analysts' lower price estimates and more cautious tone going forward.

E-commerce giant Amazon.com, Inc. reported mixed earnings. The company announced guidance that came in lower than analysts' estimates for the second quarter. Here's why analysts are lowering their price targets and sound more cautious moving forward.

The Amazon Analysts: MKM Partners analyst Rohit Kulkarni had a Buy rating and lowered the price target on Amazon from $4,000 to $3,625.

Stifel analyst Scott Devitt had a Buy rating and lowered the price target from $4,400 to $3,800.

Raymond James analyst Aaron Kessler had an Outperform rating and lowered the price target from $3,950 to $3,300.

Rosenblatt Securities analyst Barton Crockett had a Neutral rating and lowered the price target from $3,000 to $2,900.

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