Nomura Securities Maintains a 'Buy' on Amazon.com (AMZN); Raising Numbers After Q2 Review
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Price: $259.35 -0.94%
Rating Summary:
26 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 17 | New: 13
Rating Summary:
26 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 17 | New: 13
Trade AMZN Now!
Nomura Securities maintains a 'Buy' on Amazon.com (NASDAQ: AMZN) price target of $285.00.
Analyst, Brian Nowak, said, "Last night Amazon reported 2Q:12 revenue of $12.8bn, 2% above us ($12.6bn) and 1% below the Street ($12.9bn). 2Q:12 CSOI of $360mn was $18mn above our Street-high estimate of $352mn and ahead of consensus by $110mn. AMZN continues to gain relevance. Even as most retailers have reported decelerating trends in 2Q, AMZN’s N. American sales growth held steady at 36%. Gross margin was the story once again. Gross margin rose 200bp in 2Q (better than our +114bp), the best performance in AMZN’s history. After buying $960mn of stock in 1Q:12 and $277mn in 4Q:11, AMZN bought no shares back in 2Q. In all, our 2012E revenue and CSOI remain roughly unchanged, but we are raising our 2013E CSOI by 7%."
FY12E EPS from $1.33 to $1.21, FY13E EPS from $2.73 to $3.16.
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, Brian Nowak, said, "Last night Amazon reported 2Q:12 revenue of $12.8bn, 2% above us ($12.6bn) and 1% below the Street ($12.9bn). 2Q:12 CSOI of $360mn was $18mn above our Street-high estimate of $352mn and ahead of consensus by $110mn. AMZN continues to gain relevance. Even as most retailers have reported decelerating trends in 2Q, AMZN’s N. American sales growth held steady at 36%. Gross margin was the story once again. Gross margin rose 200bp in 2Q (better than our +114bp), the best performance in AMZN’s history. After buying $960mn of stock in 1Q:12 and $277mn in 4Q:11, AMZN bought no shares back in 2Q. In all, our 2012E revenue and CSOI remain roughly unchanged, but we are raising our 2013E CSOI by 7%."
FY12E EPS from $1.33 to $1.21, FY13E EPS from $2.73 to $3.16.
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
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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