"Shares of Amazon.com Inc. (NASDAQ: AMZN) lost 5.56% over the past five trading sessions after losing 1.32% the five prior, bringing the stock's year-to-date gain to just t0.22%. Amazon announced in August that it will begin offering customers same-day grocery delivery. In July, it was reported that the company's founder Jeff Bezos sold nearly 3 million shares worth $665.8 million. The stock sale is part of a plan announced earlier this year that will see Bezos unload up to 25 million shares through May 2026."
"When the company reported Q2 earnings on July 31, its financial performance was overshadowed by a bleak outlook, with guidance weaker than Wall Street's forecast. Revenue from AWS was $30.87 billion versus expectations of $30.8 billion, while advertising revenue registered $15.7 billion versus expectations of $14.9 billion. Q2 sales saw year-over-year growth of 13% to $167.7 billion."
"On Aug. 1, Bank of America raised its price target to $272 from $265, Barclays raised its price target to $275 from $240 and Piper Sandler raised its price target to $255 from $250. This comes on the back of numerous adjustments in July, with Capital ($270 from $233), Citi ($265 from $225), Needham ($265 from $220), Cantor Fitzgerald ($260 from $240) and Truist ($250 from $226) all issuing more aggressive price targets."
Shares of Amazon lost 5.56% over the past five trading sessions following a prior 1.32% decline, leaving year-to-date gain near 0.22%. Amazon will begin offering same-day grocery delivery. Jeff Bezos sold nearly 3 million shares worth $665.8 million as part of a plan to unload up to 25 million shares through May 2026. Q2 results beat expectations with EPS of $1.68 and revenue of $167.7 billion; AWS revenue was $30.87 billion and advertising revenue was $15.7 billion. Q2 sales rose 13% year over year, while Q3 operating income guidance was weaker than analyst forecasts. Multiple firms raised price targets following the results.
Read at 24/7 Wall St.
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