Today’s Research Reports on Stocks to Watch: Amazon and Sony Corporation
NEW YORK, NY / ACCESSWIRE / April 30, 2018 / Shares of Amazon and Sony Corporation went in opposite directions last week as the companies released their earnings reports. Amazon shares soared on better than expected first quarter results while Sony collapsed on weak fourth quarter results and a dismal outlook for fiscal 2018.
RDI Initiates Coverage on:
Amazon.com, Inc.
https://www.rdinvesting.com/report/?ticker=AMZN
Sony Corporation
https://www.rdinvesting.com/report/?ticker=SNE
Amazon.com, Inc. shares closed up 3.60% on about 13 million shares traded on Friday. The e-commerce giant hit a record new high of $1,638.10 during intra-day trading after reporting outstanding earnings. The company reported first quarter earnings late Thursday with adjusted earnings at $3.27 a share. This was much higher than the $1.26 that analysts had expected. It was also a growth of 121% from the year ago period. Revenue at $51 billion was also higher than the $49.9 billion analysts were waiting for and was a growth of 42.9% from the year ago period. After the earnings beat, several analysts gave the stock a price target increase. RBC Capital Markets analyst Mark Mahaney raised his target from $1,700 to $1,900 while Raymond James analyst Aaron Kessler raised his target from $1,620 to $1,800. Monness Crespi Hardt analyst Brian White also raised his target from $2,000 to $2,200. White wrote, "After more than a month of concerns regarding data privacy after the Cambridge Analytica issues with Facebook (FB), combined with heightened tensions between the White House and Amazon, Amazon's stock has been held back from realizing its true potential. However, we believe last night's results will again focus investors on fundamental trends, re-energizing the stock." Amazon also announced last week that has raised the price of its Prime membership from an annual fee of $99 to $119.
Access RDI's Amazon.com, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=AMZN
Sony Corporation shares closed down 9.33% on nearly 6.7 million shares traded. The drop came after the Japanese electronics company reported its fiscal 2017 year-end results. For fiscal 2017, Sony saw sales growth of 12% YOY at $77 billion and $6.6 billion in operating profit. According to the Wall Street Journal, this was a new "record" for Sony. Operating profit saw an increase of 154%. So while the year in general was good, the fourth quarter wasn't as good. Sales of $18 billion for the fourth quarter with a $0.12 per share loss was worse than the $19.6 billion in sales and $0.02 per share loss that analysts had been expecting. Looking ahead, Sony also forecast for fiscal year 2018 a sales drop of 3%. This would mean sales of around $74.8 billion while analysts were waiting for $81.8 billion.
Access RDI's Sony Corporation Research Report at:
https://www.rdinvesting.com/report/?ticker=SNE
Our Actionable research on Amazon.com, Inc. (NASDAQ: AMZN) and Sony Corporation (NYSE: SNE) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
CONTACT
For any questions, inquiries, or comments reach out to us directly at:
Address:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
Email:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute
SOURCE: RDInvesting.com
