Today’s Research Reports on Stocks to Watch: Amazon.com and Dicks’ Sporting Goods
NEW YORK, NY / ACCESSWIRE / August 30, 2018 / While Amazon lifted off the launching pad on Wednesday on a stellar price target from Morgan Stanley, shares of Dick’s Sporting Goods were falling on lackluster second quarter results, citing Under Armour for its sales miss.
RDI Initiates Coverage on:
Amazon.com, Inc.
https://www.rdinvesting.com/report/?ticker=AMZN
Dick's Sporting Goods, Inc.
https://www.rdinvesting.com/report/?ticker=DKS
Amazon.com, Inc. shares closed up 3.38% yesterday and hit a new high of $1,998.69 on about 6.2 million shares traded. The e-commerce giant soared to the new high after getting its highest price target yet on Wall Street from a Morgan Stanley analyst. Analyst Brian Nowak raised his price target by 35% to $2,500 a share Wednesday. Previously the analyst had a price target of $1,850. "We have increasing confidence that Amazon's rapidly growing, increasingly large, high margin revenue streams (advertising, AWS, subscriptions) will drive higher profitability and continued upward estimate revisions," said Nowak. "The (price target) adjustment reflects Amazon's improving business mix, long-term potential earnings power than its previous three-part sum-of-the-parts price target calculation," Nowak also said. Traders were exited as the upgrade could mean Amazon may break the trillion-dollar market value barrier. "We're very happy with the results we're seeing, and the backlog that we see, and the new contracts and new customers and the expansion of existing customer business that we see," CFO Brian Olsavsky said previously.
Access RDI’s Amazon.com, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=AMZN
Dick's Sporting Goods, Inc. shares tanked in Wednesday's session and sent shares of Under Armour down with it after reporting disappointing quarterly results. Dick's Sporting Goods closed down 2.17% yesterday but saw losses as high as 10% after reporting second quarter results that revealed same-store sales falling 4 percent. Overall net sales of $2.18 billion also missed Wall Street estimates of $2.24 billion. According to CEO Edward W. Stack, Dick's experienced "continued significant declines" in Under Armour sales. "As expected, sales were impacted by the strategic decisions we made regarding the slow growth, low margin hunt and electronics businesses, which accounted for nearly half of our comp decline," said Stack in the company's earnings release. "In addition, we experienced continued significant declines in Under Armour sales as a result of their decision to expand distribution." The Company reported adjusted EPS at $1.20, better than the expected EPS of $1.06. The stock traded a little over 23 million shares compared to an average trading volume of just under 3 million shares.
Access RDI’s Dick's Sporting Goods, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=DKS
Our Actionable Research on Amazon.com, Inc. (NASDAQ: AMZN) and Dick's Sporting Goods, Inc. (NYSE: DKS) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
CONTACT
For any questions, inquiries, or comments reach out to us directly at:
Address:
Email:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: RDInvesting.com