Is Amazon Primed To Hit Fresh Highs?
Spreadex | Apr 23, 2018 11:50
Last year was a typically excellent 12 months for the multi-hyphenate retailer. Bar a bit of lost momentum between August and October, Amazon was almost always on the up and up in 2017; starting at $758.55 the stock closed December at $1169.49, completing a stonking 54% surge.
The firm actually only gathered pace in early 2018, shooting to an all-time peak of $1616.63 by the middle of March. And while it did pull back across the second half of that month, slipping to $1350 at the start of April, it has rebounded since then, with Amazon.com Inc(NASDAQ:AMZN) (NASDAQ:AMZN) now at a current trading price of $1527.36.
Amazon’s last update came at the beginning of February, and though it didn’t quite set the market on fire, the company’s Q4 figures were certainly lit. Net sales rose 38% year-on-year to hit a ludicrous, and quarterly record, of $60.5 billion, around $700 million higher than forecast. Net income, meanwhile, came in at $1.9 billion, or $3.75 per diluted share, compared to $749 million, or $1.54, the same time the year previous.
In terms of the company’s first quarter numbers, Amazon itself has stated it expects net sales to come in between $47.75 billion and $50.75 billion, alongside operating income somewhere between the wide range of $300 million and $1 billion against $1 billion in Q1 2017. As for analysts, the consensus estimate is for a 33% increase in net sales to $49.88 billion, with diluted earnings per share of $1.25.
Amazon has a consensus rating of ‘Buy’ alongside an average target price of $1501.86.
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