Amazon will report second-quarter earnings later this month, and Mahaney believes that the online retailer's revenue growth could slow from 34% year-over-year to 30% year-over-year, as foreign exchange and macro headwinds prevail in the quarter.
comScore noted that there was a 107% increase year-over-year in Amazon's page views in May, down from 114% in April. "We have noticed a reasonable level of correlation (R-squared ~ 90%) between Page Views and AMZN's reported NA (North American) revenues," Mahaney noted.Despite these short-term concerns, the analyst cited management strength, as CEO Jeff Bezos and his team continue to focus on innovation and experience. Mahaney also highlighted Amazon's "competitive moat," the continued trend towards e-commerce, and an attractive business model as reasons to own the company for the long term. He reiterated his "buy" rating and $275 price target. Analysts polled by Thomson Reuters expect Amazon to earn 2 cents a share on $12.91 billion in revenue. The company will report its second-quarter results on July 23. Going back to 2009, Amazon shares have increased six times on the day after their announcement, and fallen six times, with one time notching a 0% gain, according to Mahaney's research. Shares of the online retailing giant have jumped 24.41% year-to-date. AMZN data by YCharts
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV