Amazon.com Receives Moderate Buy Rating from Wall Street Brokerages with Average Price Target of $321.19

Amazon's stock has received an average rating of 'Moderate Buy' from fifty-nine research firms that are covering the company, according to Marketbeat Ratings. This rating is based on three analysts who have rated the stock with a hold rating and fifty-six who have issued a buy rating on Amazon.com.

The average 12-month price target among these brokers is $321.19. Benchmark has boosted its price target on shares of Amazon from $370.00 to $400.00, while Robert W. Baird set a $310.00 price objective and Sanford C. Bernstein reiterated an 'outperform' rating with a $320.00 target price.

Amazon's revenue for the quarter was up 19.6% on a year-over-year basis, driven by the company's e-commerce business. The firm reported $5.75 earnings per share for the quarter, topping the consensus estimate of $1.82 by $3.93.