Amazon Looking To Downsize, Here's A Look At Recent Price Target Cuts By The Most Accurate Analysts

Amazon.com Inc AMZN plans to lay off approximately 10,000 people in corporate and technology jobs starting this week, marking the most significant job cuts in the company’s history.

The cuts will focus on Amazon’s devices organization, including the voice-assistant Alexa, as well as on its retail division and human resources, the New York Times reported.

Amazon shares gained 0.6% to $99.09 in pre-market trading.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the world’s largest online retailer in the recent period.

• Rosenblatt’s analyst Barton Crockett reiterated a Neutral rating on the company’s stock on November 14, 2022, but lowered the price target from $118 to $103.
• Accuracy Rate: 52%

• Tigress Financial’s analyst Ivan Feinseth maintained a Buy rating on Meta on November 2, 2022, but slashed the price target from $232 to $192.
• Accuracy Rate: 47%

• DA Davidson analyst Tom Forte maintained a Buy rating on the social media company on October 28, 2022, but cut the price target from $151 to $114.
• Accuracy Rate: 79%

• Morgan Stanley’s analyst Brian Nowak maintained an Overweight rating on the stock on October 28, 2022, but lowered the price target from $175 to $140.
• Accuracy Rate: 57%

• Wedbush’s analyst Michael Pachter reiterated an Outperform rating on October 28, 2022, but slashed the price target from $175 to $140.
• Accuracy Rate: 58%