Alex Belov
Developers by oneinveststock.com. Analyst, investor
Amazon (AMZN) Q2 2022 Report and Price Target Update for 2023
The Amazon company on July 28, 2022 published the report for the 2nd quarter 2022. Despite a quarterly loss of $2 billion, Amazon stock rose 14% after the release of the report. The results and forecasts were better than analysts’ expectations. Due to investment in Rivian, Amazon reported a loss of $3.9 billion. In the second quarter of 2022, revenue amounted to $121.2 billion (+7%), which is higher than analysts’ forecasts ($119.09 billion).
Main financial indicators in the report for the 2nd quarter of 2022
- – EPS = -$0.20 (forecast $0.12)
– Revenue = $121.20 bn (+7.2% yoy) Analyst forecast = $119.20 bn
– AWS Revenue $19.7B (+33% YoY, +7.1% QoQ)
Revenue of Amazon Web Services (cloud technologies) grew by 33% and made $19.7 billion (analysts predicted $19.56 billion). Advertising revenue was $8.76 billion, up 14% year-over-year (analysts forecast $8.65 billion).
Amazon Prime subscription revenue was $8.72 billion (+14%).
Amazon posted a positive outlook for Q3 2022, which is the reason behind the stock’s uptrend. According to Amazon’s forecast, revenue in the 3rd quarter of 2022 could range from $125 to $130 billion (analysts forecast $126.4 billion). In this case, revenue growth can range from 13 to 17%.
Conclusion
The results for the second quarter of 2022 were better than analysts’ expectations. The company also published an optimistic forecast for the 3rd quarter of 2022. Companies Amazon has managed to adjust to high inflation and grow its affluent customer base.
Following the Amazon (NASDAQ:AMZN) Q2 2022 report, analyst firms are updating forecasts and price targets for 2023
DATE: 07/29/2022
Analyst "UBS"
4.5/5
Consensus Rating = Buy
Price Target Change for the next 12 months = $167 → $180
Percent upside potential for stocks
33.38%
DATE: 07/29/2022
Analyst "Cowen & Co."
4.5/5
Consensus Rating = Outperform
Price Target Change for the next 12 months = $210 → $215
Percent upside potential for stocks
59.32%
DATE: 07/29/2022
Analyst "Jefferies"
4.5/5
Consensus Rating = Buy
Price Target Change for the next 12 months = $150 → $165
Percent upside potential for stocks
22.27%
DATE: 07/29/2022
Analyst "B of A Securities"
4.5/5
Consensus Rating = Buy
Price Target Change for the next 12 months = $168 → $170
Percent upside potential for stocks
25.97%
DATE: 07/29/2022
Analyst "Canaccord Genuity"
4.5/5
Consensus Rating = Buy
Price Target Change for the next 12 months = $185 → $200
Percent upside potential for stocks
48.2%
DATE: 07/29/2022
Analyst "Citigroup"
4.5/5
Consensus Rating = Buy
Price Target Change for the next 12 months = $180 → $185
Percent upside potential for stocks
37.09%
DATE: 07/29/2022
Analyst "Deutsche Bank"
4.5/5
Consensus Rating = Buy
Price Target Change for the next 12 months = $155 → $175
Percent upside potential for stocks
29.68%
DATE: 07/29/2022
Analyst "Rosenblatt"
4.5/5
Consensus Rating = Neutral
Price Target Change for the next 12 months = $107 → $118
Percent upside potential for stocks
-12.56%
DATE: 07/29/2022
Analyst "Stifel"
4.5/5
Consensus Rating = Buy
Price Target Change for the next 12 months = $185 → $200
Percent upside potential for stocks
48.2%
DATE: 07/29/2022
Analyst "JP Morgan"
4.5/5
Consensus Rating = Overweight
Price Target Change for the next 12 months = $175 → $185
Percent upside potential for stocks
37.09%
DATE: 07/29/2022
Analyst "Barclays"
4.5/5
Consensus Rating = Overweight
Price Target Change for the next 12 months = $195 → $200
Percent upside potential for stocks
48.2%
DATE: 07/29/2022
Analyst "JMP Securities"
4.5/5
Consensus Rating = Market Outperform
Price Target Change for the next 12 months = $172.5 → $180
Percent upside potential for stocks
33.38%
DATE: 07/29/2022
Analyst "Wolfe Research"
4.5/5
Consensus Rating = Outperform
Price Target Change for the next 12 months = $140 → $170
Percent upside potential for stocks
25.97%
DATE: 07/29/2022
Analyst "Raymond James"
4.5/5
Consensus Rating = Outperform
Price Target Change for the next 12 months = $165 → $164
Percent upside potential for stocks
21.53%
DATE: 07/29/2022
Analyst "Piper Sandler"
4.5/5
Consensus Rating = Outperform
Price Target Change for the next 12 months = $170 → $175
Percent upside potential for stocks
29.68%
DATE: 07/29/2022
Analyst "Telsey Advisory Group"
4.5/5
Consensus Rating = Outperform
Price Target Change for the next 12 months = $145 → $150
Percent upside potential for stocks
11.15%
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