Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Walmart Inc (NYSE:WMT) reported third-quarter results with notable momentum and strength in the e-commerce business.
'Blowout Quarter'
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Walmart reported a typical "blowout quarter" but this would be par for the course after beating earnings expectations in 16 of the past 17 quarters, CFRA senior analyst Garrett Nelson said on CNBC's "Squawk Box."
One of the main highlights from the report is the e-commerce business, which accounted for just 5% of total U.S. sales. The business is growing north of 40%, however, which is triple the growth rate of Amazon.com, Inc. (NASDAQ:AMZN).
Among the entire retail universe under CFRA's coverage, Walmart remains a top pick. Nelson said the company's online business, especially in groceries, has so much more room to expand and ultimately expand annual earnings per share from $4.91 last year to $6 per share.
See Also: Walmart To Open Q3 Books And Offer A Look-See On Key Holiday Shopping Season
Utilizing Logistics
Walmart's earnings shows the company is doing "really well" in utilizing its logistics which gives it a leg up over Amazon, retail and sales analyst Erin Sykes said on a Fox Business interview. Specifically, Walmart has a combination of warehouses, stores, distribution and shipping logistics, all of which Amazon needs to improve on.
By contrast, Walmart only needs to improve its "tech game," she said. As such, Walmart would be better suited to improve its one of area of weakness, especially at a time when Amazon is "looking outside" off it's core Amazon.com business and into other initiatives.
"They are rivals, but I think Walmart is winning here," Sykes said.
Walmart's stock ticked up about 1.5% to $122.83 per share at time of publication.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.