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Amazon Should See 29% Revenue Growth

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Amazon Should See 29% Revenue Growth

Amazon.com, Inc. (NASDAQ: AMZN) is scheduled to announce its Q3 results Thursday. Cantor Fitzgerald analysts Youssef Squali, Naved Khan and Kip Paulson shared a preview of the upcoming results.

The analysts anticipate revenue growth of roughly 29 percent year-over-year, driven by the company’s expanding retail market share, and sturdy 3P and AWS businesses. While the firm’s checks suggest the whole ecommerce space is witnessing healthy double-digit growth, the analysts believe Amazon is “one of the prime beneficiaries of such a trend.”

Related Link: Goldman Sachs Lifts Amazon Target From $920 To $1,050 Ahead Of Q3 Results

For Q3, Cantor analysts are modeling revenue of $32.49 billion and EPS of $0.58, below the Street’s consensus of $32.66 billion and $0.78, respectively.

It should be noted that for Q2, the firm had estimated revenue of $29.09 billion and EPS of $0.86, while the actual results came in at $30.404 billion and $1.78, correspondingly. The Street expected $29.53 billion in sales and $1.10 in EPS at the time.

Cantor analysts provided some other estimates for Amazon’s Q3. They envision a gross margin of 35.3 percent, up +140bps year-over-year on the back of a larger mix of AWS, 3P and digital. They also expect F/X to cause a revenue tailwind of approximately $85 million, driving EPS up by about $0.01.

The firm maintains a Buy rating and $1,000 price target on shares of Amazon.

Latest Ratings for AMZN

DateFirmActionFromTo
Sep 2019MaintainsOutperform
Aug 2019AssumesBuy
Jul 2019MaintainsOutperform

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