Canaccord Genuity Maintains a 'Hold' on Amazon.com (AMZN); The Metamorphosis Continues
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Price: $281.76 +1.33%
Rating Summary:
26 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
26 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade AMZN Now!
Canaccord Genuity maintains a 'Hold' on Amazon.com (NASDAQ: AMZN) price target of $230.00.
Analyst, Michael Graham, said, "Amazon reported in-line Q2 results that showed a continuation of recent trends around growth and margins. Guidance for Q3 was slightly below our and consensus estimates, and we are tweaking ours down to account for FX. We maintain our rating given this early stage in Amazon’s current investment cycle."
"The metamorphosis continues. Revenue up, gross margins up (3P sales growth), fulfillment costs up (Prime), profits non-existent. Today’s shareholders continue to foot the bill for tomorrow’s Amazon, the world’s largest (and possibly only) distribution and fulfillment network for physical goods (sold by others), digital media, and bits of information. Ok, so they probably won’t win the digital media fight outright, but they are looking pretty good on the other two."
For an analyst ratings summary and ratings history on Amazon.com click here. For more ratings news on Amazon.com click here.
Shares of Amazon.com closed at $220.01 yesterday, with a 52 week range of $166.97-$246.71.
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Analyst, Michael Graham, said, "Amazon reported in-line Q2 results that showed a continuation of recent trends around growth and margins. Guidance for Q3 was slightly below our and consensus estimates, and we are tweaking ours down to account for FX. We maintain our rating given this early stage in Amazon’s current investment cycle."
"The metamorphosis continues. Revenue up, gross margins up (3P sales growth), fulfillment costs up (Prime), profits non-existent. Today’s shareholders continue to foot the bill for tomorrow’s Amazon, the world’s largest (and possibly only) distribution and fulfillment network for physical goods (sold by others), digital media, and bits of information. Ok, so they probably won’t win the digital media fight outright, but they are looking pretty good on the other two."
For an analyst ratings summary and ratings history on Amazon.com click here. For more ratings news on Amazon.com click here.
Shares of Amazon.com closed at $220.01 yesterday, with a 52 week range of $166.97-$246.71.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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