(AMZN): Data Points Indicate a Meet Or Beat 3Q - Nomura

October 24, 2016 6:49 AM EDT
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Price: $817.86 -0%

Rating Summary:
    46 Buy, 5 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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Nomura Securities analyst, Anthony DiClemente, reiterated his Buy rating on shares of (NASDAQ: AMZN) after datapoints appear strong across core businesses for both 3Q and 4Q.

Amazon is reporting 3Q16 earnings on Thursday, 10/27, and the analyst believes two key trends are likely to drive 3Q results and 4Q guidance. In North America e-commerce, same-store sales have begun to inflect positively in the quarter after several months of declines, according to data from ChannelAdvisor. For AWS, a proprietary CIO survey suggests accelerating trends for the cloud business.

The indications of strength in two key businesses combined with what the analyst thinks is conservative guidance from 2Q makes the operating income estimates very achievable. No change to the price target of $950.

For an analyst ratings summary and ratings history on click here. For more ratings news on click here.

Shares of closed at $818.99 yesterday.

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