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Piper Jaffray Reiterates Overweight Rating, $297 PT on Amazon.com

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In a report published Wednesday, Piper Jaffray & Co. reiterated its Overweight rating and $297.00 price target on Amazon.com (NASDAQ: AMZN).

Piper Jaffray noted, “Through the first 15 days of December, ChannelAdvisor Amazon sales were up 26% y/y, which compares to 44% and 42% in November and October. Quarter to date, Amazon is up an estimated 41%, a mild acceleration from 40% in the September quarter. We believe this indicates Dec-12 revenue in line with our model, which has North America revenue growing 27%, a deceleration from 33% in the September quarter.”

Amazon.com closed on Tuesday at $253.86.

Latest Ratings for AMZN

DateFirmActionFromTo
Jul 2016Goldman SachsMaintainsBuy
Jun 2016Maxim GroupInitiates Coverage onBuy
Jun 2016KeyBancMaintainsOverweight

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Posted-In: Piper Jaffray & Co.Analyst Color Reiteration Analyst Ratings

 

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