Amazon.com (AMZN) Growing in Popularity Among Teens, Piper Sandler Survey Shows
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Amazon.com's (NASDAQ: AMZN) strength among teens continued to show in Piper Sandler 41st semi-annual Taking Stock With Teens Survey, with the retailer adding to its massive lead.
"AMZN is again the most widely used retailer among teens with 56% of respondents saying AMZN is their favorite online retailer (compared to Shein at 7%)," the report stated. "This is up from 53% in Spring 2020."
"The category dominance in the teen segment is underappreciated, in our view," analyst Tom Champion stated. "Prime household adoption rate was strong, with an incremental ~5% of U.S. households getting a prime subscription over the prior year. Prime adoption and the maturation of the teen cohort should serve as a powerful tailwind for many years to come."
The firm reiterated an Overweight rating and $3,903.00 price target on AMZN.
Shares of Amazon.com closed at $3223.82 yesterday.
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