tiprankstipranks
Amazon (NASDAQ:AMZN) Gains Fractionally amid Analyst Approval
Market News

Amazon (NASDAQ:AMZN) Gains Fractionally amid Analyst Approval

Story Highlights

Amazon gains, slightly, on new and positive analyst sentiment as well as an expansion to its video lineup.

While Seaport Research Partners was somewhat blasé about Airbnb (NASDAQ:ABNB), it had some much better things to say about Amazon (NASDAQ:AMZN). The e-retailing juggernaut managed to land some kind words and, in so doing, saw its share price jump, if only fractionally, in Tuesday afternoon’s trading.

Don't Miss our Black Friday Offers:

The word from Seaport, via analyst Aaron Kessler, declared Amazon a Buy and established a $145 price target on the stock as well. Kessler notes that Amazon has seen continuing retail margin improvement, spurred on by a combination of fulfillment and shipping improvements. Its advertising momentum is also holding up well, and by altering its distribution network to eight regions for smaller areas instead of one national network, Amazon has dropped “touches” by 20% and miles traveled overall by 18%.

Great news for Amazon, certainly, and it’s also improving some of its offerings. Anime site Crunchyroll is now a part of the Amazon Prime lineup. For $7.99 per month extra, Amazon Prime customers can pick up Crunchyroll as an add-on channel. The end result is said to be much more convenient than trying to navigate Crunchyroll itself and, therefore, worth the slight surcharge to get in.

Is Amazon a Buy or Sell Stock?

Turning to Wall Street, analysts have a Strong Buy consensus rating on AMZN stock based on 42 Buys and one Hold assigned in the past three months, as indicated by the graphic below. Furthermore, the average AMZN price target of $174.67 per share implies 36.78% upside potential.

Disclosure

Related Articles
Steve AndersonTyson / Paul Fight Leaves Some Questioning Netflix’s (NASDAQ:NFLX) Sports Chops
TheFlyAmazon likely faces EU probe under new DMA rules next year, Reuters says
TheFlyTarget price target lowered to $130 from $165 at Evercore ISI
Go Ad-Free with Our App