BofA analyst Justin Post notes that Amazon’s 2023 Prime Day will begin at 3 am ET on July 11 and arrives “at a time when customers are bargain hunting.” The firm estimates 10% year-over-year growth in first-party Prime Day sales and first-party GMV at $6.8B, along with 14% sales growth for third-parties and third-party GMV at $5.2B. The firm, which notes that its 12% year-over-year Prime Day GMV growth estimate translates to $11.95B in total Prime Day GMV and is above its 10% GMV growth rate forecast for Q3, has a Buy rating and $154 price target on Amazon shares.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on AMZN:
- Rivian Stock (NASDAQ:RIVN): There’s Hope for the Hopeless
- Amazon.com initiated with an Outperform at CICC
- Shein takes on Amazon in business of selling everything, WSJ says
- Jefferies software/Internet analyst to hold analyst/industry conference call
- Box Office Battle: âInsidious: The Red Doorâ wins weekend with $32,7M debut