"Shares of Amazon.com Inc. (NASDAQ: AMZN) lost 0.97% over the past five trading sessions after losing 0.87% the five prior, bringing the stock's year-to-date gain to 5.96%. Amazon has performed well since the start of August, having recently announced it will begin offering customers same-day grocery delivery. In July, it was reported that AMZN founder Jeff Bezos sold nearly 3 million shares worth $665.8 million."
"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. Amazon beat on earnings and revenue, with EPS coming in at $1.68 versus expectations of $1.33 and revenue of $167.7 billion versus expectations of $162.09 billion. 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."
"Nonetheless, analysts remain bullish on the e-commerce and cloud services giant, with the stock receiving a series of price target adjustments in the lead-up to and wake of the company's Q2 earnings call. 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."
Shares of Amazon fell modestly over two consecutive five-day periods, leaving a year-to-date gain near 6%. Amazon announced same-day grocery delivery and founder Jeff Bezos sold nearly 3 million shares as part of a plan to sell up to 25 million shares through May 2026. Q2 results showed EPS of $1.68 and revenue of $167.7 billion, with AWS revenue of $30.87 billion and advertising revenue of $15.7 billion; Q2 sales rose 13% year-over-year. Q3 guidance projected operating income of $15.5–$20.5 billion, below analyst forecasts. Multiple firms raised price targets after the earnings report.
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