Needham & Company Maintains a 'Hold' on Amazon.com (AMZN); Raising Estimates to Reflect Positive Growth Trends Early in 4Q11

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November 23, 2011 7:26 AM EST
Get Alerts AMZN Hot Sheet
Price: $262.65 -0.94%

Rating Summary:
    68 Buy, 7 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Amazon.com (NASDAQ: AMZN).

Needham analyst says, "We believe there are three trends that put Amazon’s revenue and operating income on a trajectory to exceed 4Q11 expectations. First, we believe the online holiday spending season is off to a strong start. Second, the strong demand and lower than expected bill of materials (BOM) for the Kindle Fire should benefit both revenue and profitability. Third, acceleration in Amazon’s October unique visitors should enhance revenue growth. Given these positive trends we are raising our estimates." (FY11 EPS estimate from $1.10 to $1.34 and FY12 from $2.13 to $2.40)

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 $192.34 yesterday.

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