Amazon set for seven straight sessions of losses

Amazon.com (NASDAQ:AMZN) shares were on track for its seven straight sessions of losses on Thursday, as the stock fell 1.4% to $182.09 in afternoon trade.

The e-commerce giant lost 4% in the preceding six sessions. Overall, the stock has gained nearly 22% so far this year, compared to about 20% rise in the broader S&P 500 Index.

AMZN is up 5% over the past one month. The stock closed 0.2% lower on Wednesday at $184.76.

Still, analysts are bullish on the stock. Looking at the Wall Street community, 59 analysts gave AMZN a Buy and above. Three analysts have given the stock a Hold recommendation, and no one recommended Sell or lower.

Seeking Alpha analysts also see the stock as a Buy.

“Amazon’s capital investments in AWS and custom silicon chips are expected to support strong revenue growth and improved margins through scaled operations,” noted Seeking Alpha analyst Michael Del Monte.

However, Seeking Alpha’s Quant Rating has a Hold rating with a score of 3.47 out of 5. The company received A+ in the prospect of profitability, while the score has been dragged down by a D- in valuation.

Earlier in the day, AMZN announced that it will hire for 250,000 full-time, part-time, and seasonal roles across its customer fulfillment and transportation operations in the U.S. for the holiday season. The seasonal hiring tally is the same as it was for 2023.