Amazon.com, Inc.’s stock price takes a hit, plunging to $167.90 – a sharp drop of 8.78%

Amazon.com, Inc. (AMZN)

167.90 USD -16.17 (-8.78%) Volume: 141.1M

Amazon.com, Inc.’s stock price is currently at 167.90 USD, experiencing a significant trading session drop of -8.78%, with a robust trading volume of 141.1M. Despite the session’s decline, AMZN continues to show a positive trend year-to-date with a percentage change of +10.50%, highlighting its resilience in the stock market.

Latest developments on Amazon.com, Inc.

Amazon.com Inc. stock took a hit today, tumbling 8% as the company’s profit and revenue outlook disappointed investors. The distraction of the Olympics and news of a Trump assassination attempt were cited as contributing factors to the weak forecast. Shoppers are being cautious with their spending, leading to a sharp drop in the company’s stock. Despite beating estimates in Q2 earnings, Amazon’s stock price is facing challenges. Bezos’ wealth dropped by $21 billion as fears regarding AI impact the company’s performance. With revenue below Wall Street targets and narrowed margins overshadowing cloud computing growth, Amazon is facing a turbulent period in the stock market.

Amazon.com, Inc. on Smartkarma

Analysts on Smartkarma are bullish on Amazon.com Inc, with a strong focus on the company’s Q2 2024 earnings report. Uttkarsh Kohli‘s research highlights an expected 58.5% YoY growth in EPS driven by AWS expansion, e-commerce performance, and increased advertising revenue. The average target price for Amazon is $228, reflecting analysts’ confidence in the company’s growth prospects. Joe Jasper’s analysis also remains bullish on large-cap growth names like Amazon, emphasizing a positive outlook on the company’s performance.

Moreover, Baptista Research’s report on Amazon.com Inc‘s first-quarter financial results in 2024 showcases a 13% increase in revenue year-over-year, reaching $143.3 billion. The company reported higher than expected operating income of $15.3 billion, driven by efficiency improvements and better customer experiences. With multiple analysts reaffirming buy ratings and positive sentiments towards Amazon, the company continues to be a key focus for investors seeking growth opportunities.

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 been given a mixed outlook based on the Smartkarma Smart Scores. While the company scores well in terms of growth and resilience, with scores of 3 in both categories, it falls short in terms of value and dividend, scoring 2 and 1 respectively. However, Amazon.com Inc shows strong momentum with a score of 4, indicating positive market sentiment and potential for future growth.

Despite facing challenges in certain areas, Amazon.com Inc remains a dominant player in the e-commerce industry. With a wide range of products and services, including personalized shopping and direct shipping, the company continues to attract customers and drive sales. Overall, Amazon.com Inc‘s Smartkarma Smart Scores suggest a positive long-term outlook, especially in terms of growth and resilience, highlighting its potential for continued success in the future.

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.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma