Amazon

Amazon.com, Inc. (AMZN) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/02/2024 18.08% Telsey Advisory Group $185 → $200 Maintains Outperform 01/24/2024 9.22% Telsey Advisory Group $165 → $185 Maintains Outperform 01/22/2024 3.32% Benchmark $170 → $175 Maintains Buy 01/19/2024 23.98% Wedbush → $210 Reiterates Outperform → Outperform 01/09/2024 3.32% Stifel $173 → $175 Maintains Buy 01/09/2024 18.08% BMO Capital → $200 Initiates Coverage On → Outperform 12/21/2023 23.98% Wedbush $180 → $210 Maintains Outperform 12/01/2023 18.08% Oppenheimer $170 → $200 Maintains Outperform 12/01/2023 6.27% Wedbush → $180 Reiterates Outperform → Outperform 11/29/2023 3.91% Truist Securities → $176 Reiterates Buy → Buy 11/29/2023 3.32% JMP Securities → $175 Reiterates Market Outperform → Market Outperform 11/10/2023 23.98% Tigress Financial $204 → $210 Maintains Buy 11/02/2023 -5.54% HSBC → $160 Initiates Coverage On → Buy 10/27/2023 -7.31% DA Davidson $150 → $157 Maintains Buy […]

The following is a summary of the Amazon.com, Inc. (AMZN) Q4 2023 Earnings Call Transcript: Financial Performance: Amazon reported a Q4 revenue of $170 billion, representing a 13% YOY increase, with a particularly substantial rise in operating income by 383% YOY to $13.2 billion. Their overall balance stood at $155.7 billion, an increase of over $45 billion YOY and $20 billion QOQ. There was a significant boost in trailing 12-month free cash flow adjusted for equipment finance leases, going up $48.3 billion YOY to $35.5 billion. The firm recorded a 26% YOY increase in advertising growth. AWS revenue grew by 13% YOY, close to a $100 billion annualized revenue run rate. Full-year CapEx for 2023 witnessed a decline by $10.2 billion YOY to $48.4 billion. Business Progress: Amazon made substantial advancements in improving customer experience across its businesses. AWS secured important contracts with clients such as Salesforce, BMW, and Amgen.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our 12-month target by $18 to $198, calculated using an EV/EBITDA multiple of 16x (was 15x) against our 2024 adj-EBITDA of $137.0B (up from $132.3B) vs. 12x-30x historical range. We lift our 2024 adj-EPS to $6.45 from $6.13 but lower our 2025 adj-EPS to $7.18 from $7.28. Q4 operating income of $13.2B smashed the $10.4B consensus on revenue of $170.0B (+14% Y/Y), $3.7B above consensus. AWS growth reaccelerated to +13% (approaching a $100B annualized run-rate business) vs. +12% in Q3/Q2, a trend that should continue in 2024 due to easier Y/Y comps and new AI opportunities. In retail, lower transportation costs and AMZN’s supply chain regionalization initiative drove strong margins all year. We expect retail margins to continue to expand in 2024, albeit at a

Amazon remains United Parcel Service’s main customer, but the ecommerce giant continues to take market share from the delivery company, representing a threat to UPS’ foreseeable future, analysts say. UPS saw revenue coming from Amazon, its main customer, decline by 3% in 2023, and that number will keep going down, Citi analyst Christian Wetherbee tells WSJ. Amazon will continue moving packages to its own infrastructure, with competitor players such as Fedex set to be affected by it in a similar way, Evercore analyst Jonathan Chappell says. “Amazon is also chasing smaller companies and offering logistics services that don’t sell on the platform and chasing, so it’s a bigger issue,” says Neil Saunders, managing director of GlobalData. UPS shares drop 7.4% to $146.37.

Amazon and iRobot Agree to Terminate Pending Acquisition Amazon’s proposed acquisition of iRobot has no path to regulatory approval in the European Union, preventing Amazon and iRobot from moving forward together–a loss for consumers, competition, and innovation. SEATTLE & BEDFORD, Mass.–(BUSINESS WIRE)–January 29, 2024– Today Amazon (NASDAQ: AMZN) and iRobot (NASDAQ: IRBT) announced that they have entered into a mutual agreement to terminate their previously announced acquisition agreement, originally signed on August 4, 2022, under which Amazon would have acquired iRobot for cash consideration. This deal would have allowed Amazon to invest in continued innovation by iRobot and support iRobot in lowering prices on products customers already love. The companies released the following statements today about the decision: “We’re disappointed that Amazon’s acquisition of iRobot could not proceed,” said David Zapolsky, Amazon SVP and General Counsel. “We’re believers in the future of consumer robotics in the home and have always

Beginning Monday, Amazon.com Inc (NASDAQ:AMZN) will introduce ads on its Prime Video platform. What Happened: This strategic decision aims to bolster Amazon’s already substantial $38 billion advertising business, signaling a significant shift in the streaming advertisement arena. Amazon’s entry into the streaming ad wars presents a lucrative opportunity for advertisers struggling to connect with audiences scattered across various streaming services. With its extensive data and broad advertising options, Amazon is poised to become a formidable competitor to traditional TV networks and digital platforms like YouTube. This initiative comes as Netflix Inc (NASDAQ:NFLX) is also rapidly developing its advertising business. Analysts from Wall Street project that Amazon’s advertising venture could generate over $5 billion in revenue. According to a report by Business Insider, this revenue stream is expected to come primarily from advertising, supplemented by a $3 monthly fee from Prime Video viewers who opt out of ads. Setting itself apart

+0.07% Amazon.com (AMZN) is likely to report Q4 revenue largely in line with market expectations, though expectations for its Amazon Web Services cloud-computing unit could take a hit from potential growth in rival Microsoft (MSFT) Azure, BofA Securities said in a note Friday. The e-commerce giant is scheduled to report Q4 results Thursday. BofA projects revenue at $165.85 billion, compared with the market consensus of $166.06 billion. “We see upside potential to our and Street [estimates],” BofA analysts, including Justin Post, said in the note. The firm pegs AWS revenue at $24.07 billion. “We think commentary indicating potential for 2024 AWS acceleration and continued y/y margin improvements will help frame a positive 2024 outlook, although sentiment is already quite positive,” the analysts said. The brokerage maintained its buy rating on the Amazon stock, with a $185 price objective.

Amazon.com, Inc. (AMZN) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/24/2024 17.2% Telsey Advisory Group $165 → $185 Maintains Outperform 01/22/2024 10.86% Benchmark $170 → $175 Maintains Buy 01/19/2024 33.04% Wedbush → $210 Reiterates Outperform → Outperform 01/09/2024 10.86% Stifel $173 → $175 Maintains Buy 01/09/2024 26.7% BMO Capital → $200 Initiates Coverage On → Outperform 12/21/2023 33.04% Wedbush $180 → $210 Maintains Outperform 12/01/2023 26.7% Oppenheimer $170 → $200 Maintains Outperform 12/01/2023 14.03% Wedbush → $180 Reiterates Outperform → Outperform 11/29/2023 11.5% Truist Securities → $176 Reiterates Buy → Buy 11/29/2023 10.86% JMP Securities → $175 Reiterates Market Outperform → Market Outperform 11/10/2023 33.04% Tigress Financial $204 → $210 Maintains Buy 11/02/2023 1.36% HSBC → $160 Initiates Coverage On → Buy 10/27/2023 -0.54% DA Davidson $150 → $157 Maintains Buy 10/27/2023 20.37% Barclays $180 → $190 Maintains Overweight 10/27/2023 17.2%

By Adam Clark Amazon’s $1.4 billion deal for Roomba-maker iRobot looks set to be blocked by European Union antitrust authorities. It’s only a small setback for the e-commerce giant but it’s a reminder that regulators are still skeptical over acquisitions made by big technology companies. Officials from the European Commission, the EU’s executive body, told Amazon at a meeting Thursday that the iRobot deal was likely to be rejected, The Wall Street Journal  reported, citing people familiar with the matter. Amazon and the European Commission both declined to comment on the report. iRobot shares were down 36% in premarket trading at $15.01 while Amazon shares were up 0.6%. Amazon struck a $61-a-share deal for iRobot in August 2022, a price that was later reduced to $51.75 a share. The acquisition would have extended Amazon’s line up of smart products, which include the Alexa virtual assistant, Ring doorbells, and Smart thermostats.

Amazon.com, Inc. (AMZN) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 35.78% Wedbush → $210 Reiterates Outperform → Outperform 01/09/2024 13.15% Stifel $173 → $175 Maintains Buy 01/09/2024 29.32% BMO Capital → $200 Initiates Coverage On → Outperform 12/21/2023 35.78% Wedbush $180 → $210 Maintains Outperform 12/01/2023 29.32% Oppenheimer $170 → $200 Maintains Outperform 12/01/2023 16.38% Wedbush → $180 Reiterates Outperform → Outperform 11/29/2023 13.8% Truist Securities → $176 Reiterates Buy → Buy 11/29/2023 13.15% JMP Securities → $175 Reiterates Market Outperform → Market Outperform 11/10/2023 35.78% Tigress Financial $204 → $210 Maintains Buy 11/02/2023 3.45% HSBC → $160 Initiates Coverage On → Buy 10/27/2023 1.51% DA Davidson $150 → $157 Maintains Buy 10/27/2023 22.85% Barclays $180 → $190 Maintains Overweight 10/27/2023 19.62% Rosenblatt $184 → $185 Maintains Buy 10/27/2023 3.45% Needham → $160 Reiterates Buy → Buy 10/27/2023 6.69% Telsey

Amazon.com (AMZN) is working on a paid version of its Alexa voice assistant, Business Insider reported Wednesday, citing internal documents and people familiar with the matter. This version, tentatively called Alexa Plus, will provide more conversational and personalized artificial intelligence technology, the report said. The company is preparing to introduce a new paid subscription plan in 2024, with the Alexa team working towards a June 30 deadline for the launch of the new version, the report said. Amazon declined Business Insider’s request for comment. Amazon did not immediately reply to MT Newswires’ request for comments.

Mizuho analyst James Lee noted a meaningful divergence of consumer confidence levels between the U.S. and China Internet sectors in 2024. In the U.S., he expected moderated inflation and a tight labor market to keep consumer spending resilient, benefiting category leaders across segments such as advertising, e-commerce, and gig economy services that are likely to gain share and drive margin expansion. Therefore, Lee recommended investors play offense in the U.S. Internet, choosing companies with upside to estimates plus long-term optionality. His top U.S. pick is Amazon.Com Inc (NASDAQ:AMZN). The analyst maintained a Buy rating on Amazon with a price target of $220. Lee expected AWS to accelerate in FY24 and achieve the above consensus forecast as cost optimization begins unwinding and newly migrated data becomes productive. His checks indicate enterprises are planning large-scale data migrations to the cloud due to Gen-AI, and AWS will likely benefit from this supercycle of cloud adoption. Furthermore, Lee looked