Amazon (AMZN) Checks Positive Says Cantor Fitzgerald
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Price: $274.22 +0.72%
Rating Summary:
68 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 33 | Down: 45 | New: 4
Rating Summary:
68 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 33 | Down: 45 | New: 4
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Cantor Fitzgerald reiterated a Buy rating on Amazon.com (NASDAQ: AMZN) with a price target of $285.00.
Heading into the peak holiday season, analyst Youssef Squali said he was positive on Amazon after checks showed good results. He also sees good sales momentum now that the election and Hurricane Sandy have passed.
"Third-party merchant same store sales (SSS) for AMZN rose 42% Y/Y in Oct., accelerating 540bps from 36.6% in September. One month does not a quarter make, but we believe this trend bodes well for November and December and is positive for Amazon’s gross margins, which are significantly higher on thirdparty sales vs. owned inventory," wrote Squali.
"comScore data show that traffic to Amazon's U.S. sites remained strong in Oct., with visits up 35.5% Y/Y vs +37.6% during 3Q:12. We note that comScore's visits exclude mobile usage, which we believe is growing at a significantly faster pace," added the analyst.
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 $226.31 yesterday.
Heading into the peak holiday season, analyst Youssef Squali said he was positive on Amazon after checks showed good results. He also sees good sales momentum now that the election and Hurricane Sandy have passed.
"Third-party merchant same store sales (SSS) for AMZN rose 42% Y/Y in Oct., accelerating 540bps from 36.6% in September. One month does not a quarter make, but we believe this trend bodes well for November and December and is positive for Amazon’s gross margins, which are significantly higher on thirdparty sales vs. owned inventory," wrote Squali.
"comScore data show that traffic to Amazon's U.S. sites remained strong in Oct., with visits up 35.5% Y/Y vs +37.6% during 3Q:12. We note that comScore's visits exclude mobile usage, which we believe is growing at a significantly faster pace," added the analyst.
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 $226.31 yesterday.
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