Q2 STOCKS TO BUY

Amazon Stock Surges on Blowout Earnings, Bull Notes

AMZN earned at least six price-target hikes this morning

Digital Content Manager
Feb 4, 2022 at 10:26 AM
facebook X logo linkedin


After Meta Platforms' (FB) dismal earnings results dragged the major indexes lower yesterday, Amazon.com, Inc. (NASDAQ:AMZN) is trying to inject some positivity back into the market today. The FAANG concern stepped into the earnings confessional to report much better-than-expected fourth-quarter earnings of $5.80 per share, though it just barely missed revenue expectations. However, the company posted 40% revenue growth for Amazon Web Services (AWS), and hiked Prime subscription prices in the U.S.

The brokerage bunch is already chiming in with bull notes. The security earned at least six price-target hikes this morning, including one from J.P. Morgan Securities to $4,500 from $4,350. Analysts are overwhelmingly bullish towards AMZN, with all 31 in question calling it a "buy" or better, while the 12-month consensus target price of $4,118.70 is a 34% premium to current levels.

Last seen up 10.8% to trade at $3,077.40, Amazon.com stock is eyeing its best day in roughly four years. Today's pop has the shares looking to overcome pressure from the 20-day moving average. Longer term, AMZN still carries a 6.7% year-over-year deficit. 

A shift in the options pits may keep the tailwinds blowing for AMZN. The stock sports a 10-day put/call volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than 97% of readings from the past year. This means puts have been getting picked up at a much quicker-than-usual clip. 

Drilling down to today's options activity, 130,000 calls and 116,000 puts have crossed the tape, which is four times the intraday average. Most popular is the weekly 2/4 3,000-strike put, followed by the 3,200-strike call in the same series, with new positions being opened at both.
 
 

Which of These SUB-$5 Stocks Could 26x From Here? (AD)

He called a rare 11x on Tesla…

Then he called a 26x on Workhorse…

Then an even rarer 35x on Nio Inc…

Now Tim Bohen says these 5 tiny “America First” stocks are next up in 2025.

They’re trading for less than $5 right now.

But thanks to Elon & Trump’s new alliance…

They could be off to the races in Trump’s first 100 days.

And right now for a limited time…

You can get the names & tickers for just $1 here. (AD)

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

🚀 One Stock Pick Could Change Everything in 2025
What if one stock pick could define your success next year? Get 10 expert-vetted stocks set for 2025—plus 5 bonus picks to watch now. Get the Report →

🆕 New Options Need New Trading Strategies
Zero-DTE options are the newest (and hottest) options to trade.  Professional traders have rushed into the market and are making a mint.  Don’t get left behind - learn all about these options, how to trade them, market setups to profit from, plus much more. Download now →

👀 Revealed: 3 Defensive Stocks for Your Portfolio
Worried about the market? This free report reveals 3 under-the-radar defensive stocks for uncertain times in any kind of economy.

 

 
 

FREE Report Download

 

Follow us on X, Follow us on Twitter