
Amazon.com (AMZN) Stock Jumping with Prime Day Expectations
NEW YORK (TheStreet) -- Shares of Amazon.com (AMZN) - Get Report are up 0.85% to $752.16 this morning after analysts at MKM Partners predicted that the company's Prime Day sales could double those from 2015, the inaugural year for the online shopping "holiday."
Prime Day is scheduled for Tuesday, July 12, starting at midnight Pacific time for U.S. shoppers. The massive sale day is exclusive to Amazon.com Prime members.
Last year Amazon.com reported that Prime membership holders ordered 398 items per second, totaling $375-$400 million in sales. MKM Partners' estimates predict nearly 800 items ordered per second this year and up to $800 million in sales.
Over the course of 2015, Amazon.com's Prime members grew by 51%, MKM Partners added.
Analysts noted that following the very first Prime Day in 2015, merchants are more prepared this year for the massive volume of sales to come.
The firm has a "buy" rating and an $850 price target on shares of the Seattle, WA online retailer.
(Amazon.com is held in the Growth Seeker portfolio. See all of the holdings with a free trial.)
Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of B-.
The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, expanding profit margins and solid stock price performance.
TheStreet Ratings feels its strengths outweigh the fact that the company has had generally high debt management risk by most measures that TheStreet Ratings evaluated.
You can view the full analysis from the report here: AMZN
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.










