Amazon Gets Price Target Hikes By Analysts Following Upbeat Q1 Results

Amazon.com, Inc. AMZN reported better-than-expected results for its first quarter.

Amazon reported first-quarter revenue of $127.4 billion, up 9% year-over-year. The revenue total came in ahead of a Street consensus estimate of $124.53 billion. The company reported earnings per share of 35 cents in the first quarter, beating a Street estimate of 21 cents.

Amazon.com shares gained 4.6% to close at $109.82 on Thursday, but lost 3.2% in pre-market trading.

These analysts made changes to their price targets on Amazon.com following earnings announcement.

• JP Morgan boosted the price target on Amazon.com from $135 to $145. JP Morgan analyst Doug Anmuth maintained an Overweight rating.
• Wolfe Research raised the price target on Amazon.com from $130 to $140. Wolfe Research analyst Deepak Mathivanan maintained an Outperform rating
• Baird lifted the Amazon.com price target from $125 to $130. Baird analyst Colin Sebastian maintained an Outperform rating on the stock.
• Rosenblatt increased the price target on Amazon.com from $106 to $111. Rosenblatt analyst Barton Crockett maintained the stock with a Neutral.
• B of A Securities boosted price target on Amazon.com from $135 to $139. B of A Securities analyst Justin Post maintained a Buy rating on the stock.
• Goldman Sachs raised price target on Amazon.com from $145 to $165. Goldman Sachs analyst Eric Sheridan maintained the stock with a Buy.

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