Amazon.com Inc. (AMZN) Buys Ivona, Gets New Price Target

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In its note about Amazon.com Inc. (NASDAQ:AMZN), Piper Jaffray wrote that it expects the company to report revenue in line with Wall Street consensus expectations of $22.3 billion for the quarter and an EPS of 10 cents, which is below consensus of 28 cents but above Piper’s own projection of minus-16 cents. Also, the firm said it expects Amazon to give guidance for the current quarter that may be 3-6 percent below Wall Street expectations, and that Amazon has historically guided about 4 percent below consensus the last five quarters – and ends up beating that guidance. “We reiterate our Overweight rating on shares of AMZN and raise our price target to $329 given the company’s roadmap to dominate global eCommerce over the next decade” Piper Jaffray wrote.

What are your thoughts about this purchase of Ivona? Does this imply anything for Amazon.com Inc. (NASDAQ:AMZN)? What do you expect from the company’s earnings report this week? We’d like your thoughts about this in the comments section below.

DISCLOSURE: I own no positions in any stock mentioned.

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