Form 10-Q AMAZON COM INC For: Sep 30

Go back to Form 10-Q AMAZON COM INC For: Sep 30

Cowen Downgrades Amazon.com (AMZN) to Market Perform; Notes Ongoing Market Uncertainty

October 24, 2014 6:32 AM EDT

Cowen cuts Amazon.com (NASDAQ: AMZN) from Outperform to Market Perform and moves its price target from $390 down to $325.

Analyst John Blackledge commented:

3Q14 Results: Results Fall Short

Total revenues of $20.58BN (+20% y/y), 3% below our $21.18BN estimate and 1% below consensus. Media drove much of the miss at $5.34BN, 6% below our forecast as N.A. Media was 9% lower given shift to print rental vs. buy and tough print comps. EGM was light at $13.95BN (+26% y/y) or 2% below our estimate as N.A EGM revenue acceleration was... More