Ecommerce Giant Amazon.com, Inc. AMZN reported mixed earnings on Thursday, giving guidance that came in lower than analysts’ estimates for the second quarter. Because of this, analysts are lowering their price targets and sounding more cautious.
The Amazon analysts: MKM Partners analyst Rohit Kulkarni had a buy rating, lowering the price target on Amazon to $3,625 from $4,000.
Stifel analyst Scott Devitt had a buy rating and lowered the price target to $3,800 from $4,400.
Raymond James analyst Aaron Kessler had an outperform rating and lowered the price target to $3,300 from $3,950.
Rosenblatt Securities analyst Barton Crockett had a neutral rating and cut the price target to $2,900 from $3,000.
Needham analyst Laura Martin had a buy rating and lowered the price target to $3,500 from $4,150.
Telsey Advisory Group analyst Joseph Feldman had an outperform rating and lowered the price target to $3,400 from $3,850.
Related Link: Amazon Q1 Takeaways: Mixed…