Analysts are mostly confident Amazon can work through inflationary pressures, JPMorgan says 'buy the pullback'

The Amazon logo is seen at the company's logistics centre in Boves, France, February 11, 2022.
Pascal Rossignol | Reuters

Wall Street analysts haven't lost faith in Amazon even after the e-commerce giant's mixed quarterly report.

Amazon shares dropped nearly 12% on Friday after the company signaled rising inflation will hurt sales amid growing exposure to macro pressures from the Russia invasion in Ukraine. Amazon also recorded a $7.6 billion loss on its Rivian investment.

Still, analysts mostly maintained buy ratings on the company, as they expect that Amazon will work through any inflationary pressures and accelerate growth in the back half of the year. Some analysts say they would gladly buy the dip. To be sure, several of them cut their price targets on the stock.

Here is what analysts are saying.