Here's the trade on Amazon heading into earnings, according to analysts

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Amazon reports second-quarter earnings after the bell Thursday.

Wall Street analysts are bullish on Amazon heading into earnings. The e-commerce giant is set to report after the bell Thursday. Analysts polled by StreetAccount expect second-quarter revenue to come in at $131.49 billion, compared to the company's earlier guidance of $127 billion to $133 billion, and earnings per share of 35 cents. The consensus on operating income is $4.78 billion, versus the company's guidance of $2 billion to $5.5 billion, per StreetAccount.

mountain Amazon year to date UBS is below consensus on Amazon's cloud computing services for the second quarter but anticipates a reacceleration in the business in the second half, analyst Lloyd Walmsley wrote in a July 19 note. The company remains one of his top picks. "We think the shape here is more important than where things bottom in 2Q and commentary can drive shares higher," he said.

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