SunTrust rates Amazon shares buy and raised its price target to $2,150 from $2,000. “Broad-based strength (e-commerce, Prime, AWS and ads) suggests to us Amazon is hitting that elusive margin leverage tipping point investors have been awaiting, driven by AWS and advertising,” analysts said. SunTrust calls Amazon “one of the strongest performers” in a quarter that has been “messy.” This quarter’s results are an indication of a positive future. ![]() “We believe as Amazon further integrates Whole Foods into the Prime ecosystem, it will more fully enter the Prime flywheel, increase customer spend and engagement over time,” wrote SunTrust Robinson Humphrey analysts. See: Amazon earnings explode to record thanks to surprising e-commerce profit, stock gains It is now projected to be the first company to reach the $1 trillion market-capitalization mark. The company had never previously reported quarterly profits of $2 billion. Morgan rates Amazon stock overweight with a $2,200 price target, up from $1,900.Īmazon’s price target was raised by at least five analyst firms following the company’s record earnings announcement, in which it reported net income of $2.5 billion. “We believe Amazon continues to show strong ability to take share of overall e-commerce, and its flexibility in pushing first-party versus third-party inventory and its Prime offering both serve as major advantages,” J.P. Morgan estimates that Whole Foods revenue accelerated 7% year-over-year. “Since 2Q Amazon has expanded Prime Now delivery to reach 20 cities and growing, rolled out Prime as the rewards program nationwide, and offered numerous promos at Whole Foods in the week leading up to Prime Day,” they wrote. Morgan analysts highlighted the Whole Foods adoption in its latest note. ![]() “We have a traditional grocery store now with Whole Foods, and then we have the combination of those two with home delivery, and we’re using Prime Now or Whole Foods products through Prime Now to make those deliveries, as well as the new kind of stores with Amazon Go that we’re experimenting with,” he said. ![]() Olsavsky also detailed the ways in which Whole Foods blends the traditional grocery experience with the e-commerce experience. To learn more about how and for what purposes Amazon uses personal information (such as Amazon Store order history), please visit our Privacy Notice.How everything around you could soon turn into a subscription You can change your choices at any time by visiting Cookie Preferences, as described in the Cookie Notice. Click ‘Customise Cookies’ to decline these cookies, make more detailed choices, or learn more. Third parties use cookies for their purposes of displaying and measuring personalised ads, generating audience insights, and developing and improving products. ![]() This includes using first- and third-party cookies, which store or access standard device information such as a unique identifier. If you agree, we’ll also use cookies to complement your shopping experience across the Amazon stores as described in our Cookie Notice. We also use these cookies to understand how customers use our services (for example, by measuring site visits) so we can make improvements. We use cookies and similar tools that are necessary to enable you to make purchases, to enhance your shopping experiences and to provide our services, as detailed in our Cookie Notice.
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