Top Wall Street Forecasters Revamp Amazon Expectations Ahead Of Q3 Earnings

Earnings Report - Amazon.com, Inc. is set to release its third-quarter earnings results on October 30, with analysts expecting earnings of $1.57 per share, an increase from $1.43 per share in the same period last year [1] - The consensus estimate for Amazon's quarterly revenue is $177.74 billion, compared to $158.88 billion a year earlier [1] Project Rainier - Amazon announced that Project Rainier, one of the largest AI compute clusters globally, is now fully operational, with AI company Anthropic utilizing it to develop its AI model Claude [2] - Following this announcement, Amazon's shares rose by 0.5% to close at $230.30 [2] Analyst Ratings - UBS analyst Stephen Ju maintained a Buy rating and raised the price target from $271 to $279 [5] - Stifel analyst Mark Kelley also maintained a Buy rating, increasing the price target from $260 to $269 [5] - Wedbush analyst Scott Devitt maintained an Outperform rating and raised the price target from $250 to $280 [5] - Benchmark analyst Daniel Kurnos reiterated a Buy rating with a price target of $260 [5] - Goldman Sachs analyst Eric Sheridan maintained a Buy rating and increased the price target from $240 to $275 [5]