Amazon.com, Inc.(NASDAQ:AMZN) is slightly higher late Thursday after delivering in-line Q1 profit results and guiding for Q4 sales in a narrow range that straddles the Street view.
The company reports Q1 profit of $108 million, or $0.23, compared with a profit of 82 million, or $0.18, for the year-earlier period. Revenue rose to $19.74 billion from $16.07 billion. The consensus on Capital IQ was for $0.24 on a non-GAAP basis and $0.22 per share on GAAP basis and revenue of $19.4 billion.
For the current quarter, Amazon expects sales of between $18.1 billion and $19.8 billion. Analysts were expecting sales of $19 billion.
Analysts have a consensus price target of $417 on Amazon.com, Inc. (NASDAQ:AMZN) which indicates a 26% upside. The consensus rating of the stock is a BUY with a score of 2.74. There are currently 6 Hold Ratings, 25 Buy ratings, 1 Strong Buy ration and 2 Sell ratings on the stock.
The most recent analyst action consisted of Argus upgrading the stock from Hold to Buy with a $480 price target on the stock.
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