Say what you will about e-commerce giant Amazon (NASDAQ:AMZN), and there are quite a few things you could say, both complimentary and otherwise, about the company. But they generally do get your orders to you pretty quickly, and they’ve demonstrated as much in recent weeks. Amazon is up fractionally—and it’s been bouncing between up and down fractions for at least the last half-hour—as it revealed its investments in speed are delivering. And so is Amazon.
As long as you live in one of the top 60 metro areas, Amazon noted, there’s a very good chance that your orders will arrive either the day after you place the order or even potentially that same day. In fact, the figure is around 60%. A year ago, in 2023’s second quarter, that number was around 50%, so it’s clear that Amazon’s delivery push is bearing fruit. With Amazon charging $139 for the service and planning to double its same-day delivery facilities over the next several years, the end result could be a winner for Amazon.
Feisty Cats and Huge Sales
But Amazon’s successes don’t end there, a point it will likely be happy to point out to shareholders with earnings reports about to emerge. Amazon recently managed to find a lost cat in its delivery operations. No, not an Amazon driver finding a stray on the road, but rather, an Amazon worker finding a live cat in a return box. A cat named Galena slipped into a shipping box measuring nine square feet and, for six days, lived in said box, traveling over 500 miles to a return facility. The cat was returned safely to its family.
Meanwhile, Amazon has offered up early details about its Prime Day, which this year will hit in July and feature a healthy assortment of big deals.
Is Amazon a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on AMZN stock based on 42 Buys assigned in the past three months, as indicated by the graphic below. After a 76.02% rally in its share price over the past year, the average AMZN price target of $213.74 per share implies 18.57% upside potential.
Is It Wise to Allocate $1,000 Toward AMZN Stock Right Now?
Before you hurry to invest in AMZN, think about the following:
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