Telsey Advisory Group analyst Joseph Feldman reiterated the Outperform rating on Amazon.Com, Inc. (NASDAQ:AMZN), with an unchanged price forecast of $200.
Amazon will report its first quarter of 2024 earnings after the markets close on Tuesday, April 30.
Feldman projects continued double-digit sales and profit growth in the quarter to be reported, reflecting the strength of online spending, gains from expanded merchandise and faster fulfillment, and stabilization (and growth) of AWS.
According to the analyst, greater focus on profits will be supported by the growth of higher margin categories and services, such as advertising, media, ...