Retail Tracker Data Bodes Well for Amazon.com (AMZN) into Q1 Report; Cowen Maintains at 'Outperform'

Cowen and Company has Amazon.com (Nasdaq: AMZN) at Outperform with a price target of $40 into the e-commerce giant's Q1 earnings release, which is expected out after markets close Thursday.

Analyst John Bloackledge is looking for Amazon to report 1 revs of $19.5 billion and GAAP EPS of $0.20. The analyst noted, we forecast growth in North American revenues (26% y/y) offset by Int'l growth (15% y/y) driven by low expectations for Int’l Media growth (3% y/y and inline with 4Q at 2.9%). By Segment, we expect total WW Media revenue of $5.6 billion, up 11% y/y and driven by US growth of 20% y/y and WW Electronics and Other Merchandise revenue of $12.7 billion, up 24% y/y (vs. 23% in 4Q13).

Blackledge is looking for unit growth of 28 percent, from 25 percent in the prior quarter. The analyst cites positive Cowen retail tracker data on the estimate. While we have limited information intraquarter on unit growth our Retail Tracker data based on a monthly survey of 2,500 US consumers has been positive with rising purchasers/visits y/y, fast-paced Prime member growth (+40% y/y to 23MM) and strong purchaser growth in Apparel and Consumables categories. Other areas of interest include Int'l business trends, AWS and any changes on key areas of strategic focus, previously identified as (i) AWS, (ii) Kindle/Digital Media, (iii) Apparel and (iv) Consumables, Blackledge said.

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 $324.58 yesterday.

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