ISI Group Reiterates Buy Rating on Amazon.com
In a report published Wednesday, ISI Group reiterated its Buy rating on Amazon.com (NASDAQ: AMZN).
ISI Group noted, “4Q EPS of $0.21 was below the Street's $0.28 and revenue growth decelerated to 22% (23% excl. FX). Yet operating margins increased 54bps YoY, driven by a 350bps increase in gross margins. Despite the deceleration in revenues, the improvement in gross margins pushed the stock higher after markets. The mid-point of the company's sales guidance for Q1 suggests a similar growth rate to Q4. Amazon is changing the way we shop, and already accounts for 2% share of U.S. retail sales. Mobile Commerce is accelerating eCommerce and AMZN is the clear way to invest in the trend.”
Amazon.com closed on Tuesday at $260.35.
Latest Ratings for AMZN
|Jul 2014||B Riley||Downgrades||Buy||Neutral|
|Jul 2014||Raymond James||Downgrades||Outperform||Market Perform|
|Jul 2014||Canaccord Genuity||Maintains||Hold|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.