Amazon Delivers Mixed Q2 Results; Shares Fall 7% After-Hours

Amazon (AMZN) delivered mixed second-quarter results as earnings topped estimates, but revenues and third-quarter outlook fell short of analysts’ expectations. Net sales rose 27% to $113.1 billion but fell short Read More... The post Amazon Delivers Mixed Q2 Results; Shares Fall 7% After-Hours appeared first on TipRanks Financial Blog.

Amazon Delivers Mixed Q2 Results; Shares Fall 7% After-Hours

Amazon () delivered mixed second-quarter results as earnings topped estimates, but revenues and third-quarter outlook fell short of analysts’ expectations. Net sales rose 27% to $113.1 billion but fell short of expectations as analysts were expecting revenues of $115.07 billion. AMZN closed at $3,599.92 on Thursday but fell 7.44% after-hours.

Net income totaled $7.8 billion, or $15.12 per diluted share, versus $5.2 billion, or $10.3 per diluted share, reported the same quarter last year. Analysts were expecting earnings per share of $12.22. (See Amazon stock charts on TipRanks)

According to CEO Andy Jassy, Q2 results underscore growth in the consumer business, which saw a significant increase in items delivered. Additionally, the company continues to see growth in its cloud computing unit.

Jassy stated, “At the same time, AWS has helped so many businesses and governments maintain business continuity, and we’ve seen AWS growth reaccelerate as more companies bring forward plans to transform their businesses and move to the cloud.”

For the third quarter, Amazon is projecting net sales in the range of $106 - $112 billion, signaling growth of between 10% and 16% compared to the year-ago period. Operating income is expected between $2.5 billion and $6 billion, slightly below $6.2 billion generated in the same quarter last year. The e-commerce giant also expects to incur $1 billion in COVID-19 related costs.

Consensus among analysts is a Strong Buy based on 22 Buys. The average Amazon price target of $4,323.64 implies 20.1% upside potential to current levels.

AMZN scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.

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The post Amazon Delivers Mixed Q2 Results; Shares Fall 7% After-Hours appeared first on TipRanks Financial Blog.

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Why Did Mizuho Securities Downgrade Coinbase Global's Stock?

Coinbase Global (COIN – Research Report) received a Hold rating and a $210.00 price target from Mizuho Securities analyst Dan Dolev today. The company's shares closed last Thursday at $235.78, close to its 52-week low of $208.00. According to TipRanks.com, Dolev is ranked #672 out of 7609 analysts. Coinbase Global has an analyst consensus of Moderate Buy, with a price target consensus of $351.33. See today’s analyst top recommended stocks >> Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of COIN in relation to earlier this year. TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities. Coinbase Global Inc is a provider of end-to-end financial infrastructure and technology for the crypto-economy. It generates substantially all its net revenue from transaction fees from trades that occur on its platform. Geographically, it derives a vast majority of its revenues from the US followed by the rest of the world. Read More on COIN: Canaccord Genuity Remains a Buy on CI Financial (CIFAF) Amazon Delivers Mixed Q2 Results; Shares Fall 7% After-Hours Yum! Brands’ Shares Leap 6.1% on Stellar Q2 Results Schneider National Beats Q2 Expectations; Shares Jump Upwork Q2 Results Beat Estimates; Shares Fall 4.4% The post Why Did Mizuho Securities Downgrade Coinbase Global's Stock? appeared first on TipRanks Financial Blog.

Why Did Mizuho Securities Downgrade Coinbase Global's Stock?

Coinbase Global (COIN – Research Report) received a Hold rating and a $210.00 price target from Mizuho Securities analyst Dan Dolev today. The company's shares closed last Thursday at $235.78, close to its 52-week low of $208.00.

According to TipRanks.com, Dolev is ranked #672 out of 7609 analysts.

Coinbase Global has an analyst consensus of Moderate Buy, with a price target consensus of $351.33.

Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of COIN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Coinbase Global Inc is a provider of end-to-end financial infrastructure and technology for the crypto-economy. It generates substantially all its net revenue from transaction fees from trades that occur on its platform. Geographically, it derives a vast majority of its revenues from the US followed by the rest of the world.

Read More on COIN:

  • Canaccord Genuity Remains a Buy on CI Financial (CIFAF)
  • Amazon Delivers Mixed Q2 Results; Shares Fall 7% After-Hours
  • Yum! Brands’ Shares Leap 6.1% on Stellar Q2 Results
  • Schneider National Beats Q2 Expectations; Shares Jump
  • Upwork Q2 Results Beat Estimates; Shares Fall 4.4%

The post Why Did Mizuho Securities Downgrade Coinbase Global's Stock? appeared first on TipRanks Financial Blog.

Source : Tip Ranks More   

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