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Nasdaq AMZN Amazon

Tuesday's ETF with Unusual Volume: ONLN

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The ProShares Online Retail ETF is seeing unusually high volume in afternoon trading Tuesday, with over 776,000 shares traded versus three month average volume of about 90,000. Shares of ONLN were up about 0.4% on the day.

Pre-Markets Mixed Ahead of Q2 Earnings Season

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We’re mixed on pre-market futures this Tuesday morning, with the tech-heavy Nasdaq outpacing the Dow and S&P 500, +20 points versus -200 and -15 points, respectively. This offsets, to a small level, the outsized losses the Nasdaq made Monday versus the other two major

1 FAANG Stock to Buy on the Dip and 1 to Avoid

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The S&P 500 jumped 110% over the past decade, but all five FAANG stocks generated even bigger returns. Apple and Amazon (NASDAQ: AMZN) led the way with gains of 660% and 560%, respectively. Alphabet finished in the middle of the pack, up 328%. And Netflix (NASDAQ: NFLX) and M

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Investors are always on the hunt for the next big thing -- "the next Amazon" or "the next Tesla." Crypto investors are no different, as many investors are looking for the "next Bitcoin (CRYPTO: BTC)" or the "next Ethereum (CRYPTO: ETH)."

Will a Strong Dollar Hamper Amazon's Prime Day?

4 years 3 months ago
Tuesday, July 12, 2022We’re mixed on pre-market futures this Tuesday morning, with the tech-heavy Nasdaq outpacing the Dow and S&P 500, +20 points versus -200 and -15 points, respectively. This offsets, to a small level, the outsized losses the Nasdaq made Monday vers

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While fast-growing stocks used to be all the rage, they are now out of style on Wall Street. This fallout makes it the perfect time to pick up these stocks for a cheaper valuation. Moreover, their already low valuations will become cheaper each quarter because they are growing so

Stock Market News for Jul 12, 2022

4 years 3 months ago
U.S. stocks ended mostly lower on Monday after markets lost steam as investors braced for quarterly earnings from some big companies and another round of inflation reading that is likely to remain hot. All the three major indexes ended in negative territory.

Are the Carvana Shorts in Danger of Being Crushed?

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The day after the 4th of July, Carvana (NYSE: CVNA) stock popped like a firecracker, running up 25% on no news. Does this mean its sell-off has hit bottom and the stock will continue to surge higher? Not necessarily. I'm bullish on Carvana, but in the short term, the stock could

Got $5,000? 3 Stocks to Buy and Hold for the Next 20 Years

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Considering that the stock market just had its worst beginning to the year of the past 50 years, it may seem counterintuitive to be thinking about buying stocks right now. But rough market patches are actually a great time to be looking to buy shares of amazing companies that cou

Top Stock Market News For Today July 12, 2022

4 years 3 months ago
Stock Market Futures Extend Previous Day’s Losses Ahead Of Second Quarter Earnings SeasonU.S. stock futures are trading lower in early morning trading on Tuesday this week. Overall, consumers appear to be taking a more defensive stance as several potential market movers are

J.P. Morgan Bullish on Amazon Stock Ahead of Prime Day

4 years 3 months ago

The Q2 Earnings season might be kicking into action, but before Amazon (AMZN) delivers the quarter’s financial report, it has another big event to attend to. This week, the ecommerce giant’s annual shopping extravaganza takes place.

Shifting back from 2021’s mid-June slot to the usual mid-July window, the 8th annual Prime Day happens this week on July 12-13 (Tuesday/Wednesday).

The 48-hour event is set to include millions of deals and covers 20 countries, with an anticipated focus on summer and back-to-school shopping. J.P. Morgan’s Doug Anmuth expects the event to “drive incremental revenue” of ~$3.8 billion, a 7% year-over-year increase on the ~$3.6 billion of incremental revenue generated at last year’s 2Q21 Prime Day.

“Importantly,” says the 5-star analyst, “over the past 2 years AMZN has doubled its fulfillment & distribution network, & nearly doubled its workforce to ~1.6M employees. Therefore, AMZN should be well prepared for the elevated demand of Prime Day & the event should help AMZN leverage some of its excess capacity.”

Anmuth also believes delivery speeds are almost at or have even exceeded early 2020 levels and reckons well over 50%+ of packages are being delivered from the company’s fulfillment centers, thereby diminishing its reliance on third-party shippers.

In total, Anmuth expects Prime Day revenue will reach ~$5.6 billion. Yet, in anticipation of a “more muted benefit” from the 2-day event on account of the difficult macro environment, this represents slower growth in incremental Prime Day revenue. In general, this is also why Anmuth thinks this year’s Prime Day seems to have “less hype going in than previous years.”

Nevertheless, despite the challenging macro backdrop, Anmuth still considers Amazon his “Best Idea” and sticks with an Overweight (i.e., Buy) rating and $175 price target. Should the figure be met, investors will be sitting on returns of ~57%. (To watch Anmuth’s track record, click here)

That objective is just a touch under the Street’s average target, which stands at $178.55 and makes room for one-year gains of ~60%. Of the 39 AMZN reviews made during the past 3 months, one recommends sitting this one out, but all the rest are positive, making the consensus view here a Strong Buy. (See Amazon stock forecast on TipRanks)

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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