Amazon.com, Inc.’s Stock Price Soars to $178.50, Marking a Robust 3.71% Uptick

Amazon.com, Inc. (AMZN)

178.50 USD +6.38 (+3.71%) Volume: 43.1M

Amazon.com, Inc.’s stock price soars to 178.50 USD, marking a trading session increase of +3.71% with a robust trading volume of 43.1M. The e-commerce giant continues its bullish trend with a year-to-date percentage change of +17.48%, reinforcing its strong market performance.

Latest developments on Amazon.com, Inc.

Amazon.com Inc. has been making headlines recently with various key events affecting its stock price. The company has been moving forward with its satellite internet ambitions, securing land in New Zealand for Project Kuiper. Additionally, the Staten Island warehouse became the retailer’s first to unionize, while BlackRock auctioned off an Amazon seller once valued at $1 billion. Despite some challenges, institutional shareholders continue to heavily influence Amazon’s control, with companies like Intel contributing to stock gains. Amidst all this, Amazon’s checkout experienced downtime, and an Alexa overhaul is on the horizon. Despite underperforming compared to competitors, analysts see a long-term opportunity in Amazon stock, making it an attractive buy for investors.

Amazon.com, Inc. on Smartkarma

Analysts on Smartkarma are closely following Amazon.com Inc, with a focus on key aspects of the company’s performance. Baptista Research‘s report on the ‘Expansion of AWS’ highlighted Amazon’s 11% year-over-year revenue growth to $148 billion in the second quarter of 2024, along with a significant 91% increase in operating income to $14.7 billion. On the other hand, Utkarsh Kohli’s analysis titled ‘Amazon Q2 Earnings’ anticipates a 58.5% YoY growth in EPS, driven by AWS expansion and strong e-commerce performance. The overall sentiment from analysts remains bullish, with a reaffirmed buy rating and an average target price of $228 for Amazon.

Joe Jasper’s insights reinforce a positive outlook on Amazon as part of the large-cap growth segment. Despite fluctuations in the market, the report suggests maintaining an overweight position in large-cap growth stocks like Amazon, Microsoft, and others. Baptista Research‘s report on ‘Amazon.com Inc.: Prime’ also highlights the company’s robust financial performance in the first quarter of 2024, with a 13% increase in revenue year-over-year to $143.3 billion. Overall, the analyst coverage on Smartkarma underscores the confidence in Amazon’s growth prospects and market position.

A look at Amazon.com, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Amazon.com Inc, the online retail giant, has received a mixed bag of Smart Scores indicating its long-term outlook. While scoring high in Growth and Resilience, with a score of 4 for both factors, the company falls short in Value and Dividend, with scores of 2 and 1 respectively. This suggests that Amazon is positioned well for future expansion and is able to weather economic downturns, but may not be seen as a high-value or dividend-paying investment.

With a Momentum score of 3, Amazon.com Inc shows moderate performance in terms of market momentum. Overall, the Smart Scores paint a picture of a company with strong growth potential and resilience, but may not be the most attractive option for value or dividend-focused investors. As Amazon continues to dominate the e-commerce market and expand into new ventures, investors will be closely watching how these factors play out in the company’s long-term performance.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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